What is BONA FIDE? Definition of BONA FIDE in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
Is or with good faith; honestly, openly, and sincerely; without deceit or fraud. M. Lowenstein & Sons v. British-American Mfg. Co., C.C.A.Conn., 7 F.2d 51, 53; Fairfield Holding Corporation v. Souther, 258 Mass. 540, 155 N.E. 639, 640. Truly; actually; without simulation or pretense. Innocently; in the attitude of trust and confidence; without notice of fraud, etc. Real, actual, genuine, and not feigned. Bridgeport Mortgage & Realty Corporation v. Whitlock, 128 Conn. 57, 20 A.2d 414, 416.
The phrase "bona fide" is sometimes used ambiguously; thus, the expression "bona fide holder for value" (see that title, infra) may either mean a holder for real value, as opposed to a holder for pretended value, or it may mean a holder for reaL,yalue without notice of any fraud, etc. Byles, Bills, 121.
Bona Fide Contract Carriers
Genuine contract carriers without deceit or fraud. Infantino v. Pennsylvania Public Utility Commission, 146 Pa.Super. 245, 22 A.2d 108, 109; Puhl v. Pennsylvania Pub-
lic Utility Commission, 139 Pa.Super. 152, 11 A.2d 508, 511.
Bona Fide Holder for Value
An innocent or "bona fide holder for value" of negotiable paper is one who has taken it in good faith for a valuable consideration in the ordinary course of business and when it was not overdue. McCamant v. McCamant, Tex.Civ.App., 187 S.W. 1096, 1099. "Holder in due course" as equivalent for expression "bona fide holder for value without notice." Drumm Const. Co. v. Forbes, 305 Ill. 303, 137 N.E. 225, 226, 26 A.L.R. 764; Bank of California v. National City Co., 138 Wash. 517, 244 P. 690, 691; Bruce v. Citizens' Nat. Bank of
Lineville, 185 Ala. 221, 64 So. 82, 84; Weller v. Meadows,
Mo.App., 272 S.W. 85, 90. One who receives negotiable paper in payment of antecedent obligations without notice of prior equities. W. Horace Williams Co. v. Vandaveer, Brown & Stoy, Tex.Civ.App., 84 S.W.2d 333, 340.
Bona Fide Judgment Creditor
One who in good faith, without fraud or collusion, recovers a judgment for money honestly due him. Rochester Trust Co. v. White, 243 Pa. 469, 90 A. 127, 129.
Bona Fide Mortgagee
Essential elements of status are good faith, valuable consideration, and absence of notice. Companaro v. Gondolfo, C.C.A.N.J., 60 F.2d 451, 452. To constitute "bona fide mortgagee" there must be an absence of notice and payment of, or fixed liability for the consideration. Cambridge Production Credit Ass'n v. Patrick, 140 Ohio St. 521, 45 N.E.2d 751, 755, 144 A.L.R. 323.
Bona Fide Operation
Substantial, as distinguished from incidental, sporadic, or infrequent service. Goncz v. Interstate Commerce Commission, D.C.Mass., 48 F.Supp. 286, 288.
Bona Fide Possessor
One who not only supposes himself to be the true proprietor of the land, but who is ignorant that his title is contested by some other person claiming a better right to It. Whitehead v. Barker, 288 Mich. 19, 284 N.W. 629, 631.
Bona Fide Possessor Facit Fructus Consumptos Suos
By good faith a possessor makes the fruits consumed his own. Tray. Lat. Max. 57.
Bona Fide Purchaser
A purchaser in good faith for valuable consideration and without notice. Neal v. Holt, Tex.Civ.App., 69 S.W.2d 603, 609. 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. One who at time of purchase advances a new consideration, surrenders some security, or does some other act which leaves him in a worse position if his purchase should be set aside. Kelly v. Grainey, 113 Mont. 520, 129 P.2d 619, 626. Title, possession, and want of notice, either actual or constructive, as the essential factors. Taylor v. Lindenmann, 211 Iowa, 1122, 235
N.W. 310, 312. Payment of consideration prior to notice of adverse claim as essential. The J. Oswald Boyd, D.C.Mich., 53 F.Supp. 103, 106. Payment of valuable consideration, good faith, absence of purpose to take unfair advantage of third persons, and absence of actual or constructive notice of outstanding rights of others as the essential elements. Luschen v. Stanton, 192 Okl. 454, 137 P.2d 567, 570. "Innocent purchaser for value" and "bona fide purchaser" as synonymous. Felts v. Whitaker, Tex. Civ.App., 129 S.W.2d 682, 690.
Bona Fide Residence
Residence with domiciliary intent, i. e., a home In which the party actually lives. Alburger v. Alburger, 138 Pa. Super. 339, 10 A.2d 888, 890.
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