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FINDLAW LEGAL DICTIONARY

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Bargain

bargain n

often attrib
[Old French bargaigne negotiation, haggling, from bargaignier to haggle]
1 : an agreement between parties that settles what each gives or receives (as a promise or performance) in a transaction between them compare contract
2 a : something acquired by or as if by bargaining
b : something whose value considerably exceeds its cost [a purchase]
vi 1 a : to negotiate over the terms of an agreement (as a contract)
b : to engage in collective bargaining [the employer must with the union]
2 : to agree to certain terms or conditions
: come to terms [plaintiff ed with the store for a lower price]
vt
: to convey according to a bargain [does hereby grant, , sell, alien and confirm to the party of the second part, the following described property] often used with sell in deeds to indicate that the conveyor is receiving consideration in exchange for the property



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.