Sentences with phrase «substantially equivalent value»

If the third party buyer takes for substantially equivalent value and had no notice of the prior purchase deal, the third party buyer would have good title; if third party buyer did not purchase for value or had actual or constructive notice of the prior purchase deal, the third party's title would be voidable in a suit to seek specific enforcement of the purchase and sale contract against the seller.

Not exact matches

The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property or services involved and it is agreed that the bailee or lessee may become for no other or a nominal consideration the owner of the property upon full compliance with the bailee's or lessee's obligations under the contract.

«Contributing substantially» in this context is taken to mean at least the current equivalent of the IQC.the current equivalent value of the IQC in monetary terms or in - kind.