Purchase (fr. perquisitio, or conqu'stus, Lat., according to the feudists], in its popular sense, an acquisition of land, obtained by way of bargain and sale, for money or some other valuable consideration; in its legal acceptation, an acquisition of land in any lawful manner, other than by descent, or the mere act of law, and including escheat, occupancy, prescription, forfeiture, and alienation. See 2 Br. and Had. Com. 408 et seq. It is possession to which a man cometh not by title of descent; see Co. Litt. 18 b.
Means any transfer of property in goods to the person making the purchase for cash or deferred payment or other valuable consideration, but does not include a transfer by way of mortgage, hypothecation, charge or pledge. [The West Bengal Value Added Tax Act, 2003, s. 2(34)]