Definition of Bona Fide

In or with good faith; honestly, openly, and sincerely; without deceit or fraud. Truly; actually; without simulation or pretense. Innocently; in the attitude of trust and confidenco; without notice of fraud, etc. The phrase "bona fide" is often used ambiguously ; thus, the expression "a bona fide holder for value" may either mean a holder for real value, as opposed 'to a holder for pretended value, or It may mean a holder for real valus without notice of any fraud, etc. Byles, Bills, 121.
—Bona fide purchaser. A purchaser for a valuable consideration paid or parted with in the belief that the vendor had a right to sell, and without any suspicious circumstances to put him on inquiry. Merritt v. Railroad Co., 12 Barb. (N. Y.) 605. One who acts without covin, fraud, or collusion ; one who, in the commission of or connivance at no fraud, pays full price for the property, and in good faith, honestly, and in fair dealing buys and goes into possession. Sanders v. McAffee, 42 Ga. 250. A bona fide purchaser is one who buys property of another without notice that some third person has a right to, or interest in, such property, and pays a full and fair price for the same, at the time of such purchase, or before he has notice of the claim or interest of such other in the property. Spicer v. Waters, 65 Barb. (N. Y.) 23L