Bargain And Sale - Definition - Law Dictionary Home Dictionary Definition bargain-and-sale

Definition :

Bargain and sale, A contract for the sale of real or personal property of any kind operating under the Statute of Uses as a conveyance of the land, or at Common Law, from early times of goods sold without delivery, the vendor of land being held originally to possess or be seised of the property to the use of the purchaser. In the case of goods the Common Law rule was and is that the property may be transferred by the contract if the parties so intend [see Ogg v. Shuter, (1875) LR 10 CP at p.162; and (English) Sale of Goods Act, 1893, s. 20]. In the case of land a similar result was effected by the Statute of Uses (27 Hen. 8, c. 101), which attached the property to the use and turned it into a legal estate. No formalities were required for a bargain and sale of lands until 27 Hen. 8, c. 16, required that bargains and sales of any estate of inheritance must be by deed enrolled within six months in the records of one of the King's Courts at Westminster. The devise of a lease and release (q. v., post.) was then resorted to, to evade enrolment. For other enactments affecting bargains and sales of land, see the Statute of Frauds (29 Car. 2, c. 3), s. 4. The method of conveyance by bargain and sale inrolled had been in abeyance for many years before the R.P. Act, 1845 (8 & 9 Vict. c. 106), ss. 1 and 2 (replaced by the (English) L.P. Act, 1925, s. 51), declared that all corporeal tenements or hereditaments were to lie in grant as well as delivery, and must be made by deed, and the same s. 55 of the Act of 1925 expressly abolished bargain and sale as a mode of conveyance of lands or any interest therein.

A written agreement for the sale of land whereby the buyer would give valuable consideration (recited in the agreement) without having to enter the land and prefer livery of seisen, so that the parties equitably 'raised a issue' in the buyer; Black's Law Dictionary, 7th Edn.