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Good Faith Purchaser
An individual who buys property without knowledge of any existing claims or defects in the title of the property, thereby acquiring uncontested ownership.
Bulk Transfer
The transfer of a substantial part of the materials, inventory, or supplies of a business outside the ordinary course of business.
Ordinary Course of Business
The regular, usual, and customary activities and operations that a company engages in to conduct its business.
Consignment
The process of handing over goods to another party to sell on behalf of the owner, yet ownership remains with the original party until the goods are sold.
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