Buyer in the ordinary course of business definition

Buyer in the ordinary course of business means a person who in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods buys in the ordinary course from a person in the business of selling goods of that kind but does not include a pawnbroker. "Buying" may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt.

Buyer in the ordinary course of business means a person that buys goods in good faith, without actual knowledge that the sale violates the rights of another person in the goods, in the ordinary course from a person other than a pawnbroker in the business of selling goods of that kind or a person buys goods in the ordinary course if the sale to the person conforms with the usual or customary practices in the kind of business in which the seller is engaged or with the seller’s own usual or customary practices;

Buyer in the ordinary course of business means a person who, in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest of a third party in the goods, buys in ordinary course from a person in the business of selling goods of that kind;

Examples of Buyer in the ordinary course of business in a sentence

Each remittance of Collections by an Originator to the Buyer will have been made (i) in payment of a debt incurred by such Originator from the Buyer in the ordinary course of business or financial affairs of such Originator and (ii) in the ordinary course of business or financial affairs of such Originator.
Each remittance of Collections by the Seller to the Buyer, as transferee under this Agreement, will have been received by the Buyer in the ordinary course of business or financial affairs of the Buyer.
Assumed Ordinary Course Administrative Claims shall be paid by Buyer in the ordinary course of business in accordance with the terms and conditions of any agreements relating thereto.
The Inventory is usable and saleable by Buyer in the ordinary course of business, consistent with past practices.
Assuming the efforts to mitigate are continued, with respect to the Transferred Assets, by Buyer in the ordinary course of business after the Closing Date, the Transferred Assets are not reasonably expected to experience any disruption in operations as a consequence of the Y2K Problem that could reasonably be expected to have a Material Adverse Effect on the Business or to have a Material Real Estate Impairment.

Buyer in the ordinary course of business means a person who buys goods from a person in the business of selling goods of that kind, if the buyer buys in good faith and without actual knowledge that the sale violates the rights of another person in the goods.

Buyer in the ordinary course of business means a person that buys inventory in the ordinary course from a person in the business of selling tangibles of that kind and without knowledge that the sale violates the security rights or other rights of another person in the tangibles.

Buyer in the ordinary course of business means a person who in good faith and without knowledge that the sale to him

Buyer in the ordinary course of business means that a person that buys in good faith, without knowledge that the sale violates the rights of another person in the goods, and in the ordinary course from a person, other than a pawn-broker, in the business of selling goods of that kind. A person buys in the ordinary course if the

Buyer in the ordinary course of business means a person that buys inventory in the ordinary course of the seller’s business from a seller in the business of selling tangible property of that kind and without knowledge that the sale violates the rights of the secured creditor under the security agreement [or other rights of another person in the property];

Buyer in the ordinary course of business means a person

Buyer in the ordinary course of business means a person that buys the goods in good faith, without knowledge that the sale violates the rights of another person in the goods, and in the ordinary course from a person in the business of selling goods of that kind. 1-201(b)(9). Mere knowledge of the fact that the collateral is subject to a security interest does not constitute knowledge that the sale violates the rights of another party.