BUYER

buyer. One who makes a purchase. See PURCHASER. buyer in ordinary course of business.A person who — in good faith and without knowledge that the sale violates a third party’s ownership rights or security interest in the goods — buys from a person regularly engaged in the business of selling goods of that kind. • Pawnbrokers are excluded from the definition. UCC § 1-201(b)(9). [Cases: Sales  234. C.J.S. Sales §§ 232–233, 235.] qualified institutional buyer.Securities. An institution with more than $100 million in invested assets.[Blacks Law 8th]