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baronet.Hist. A non-noble hereditary title that descends in the male line only. • Baronets originated in 1611 when James I began selling the title as a way to raise revenue.[Blacks Law 8th]

baron. 1.Hist. A man who held land directly from the Crown in exchange for military service. 2.Hist. A husband. See BARON ET FEME. 3. One of the judges of the former English or Scottish Courts of Exchequer. — Abbr. B. See BARONS OF THE EXCHEQUER . 4. A noble rank; specif., the lowest rank in…

  barometer stock.See STOCK.[Blacks Law 8th]

bargain theory of consideration.The theory that a promise or performance that is bargained for in exchange for a promise is consideration for the promise. • This theory underlies all bilateral contracts. See bilateral contract under CONTRACT. [Cases: Contracts  50. C.J.S. Contracts § 87.] “[C]lassical contract theory tended to associate the doctrine of consideration with the…

bargain sale.A sale of property for less than its fair market value. • For tax purposes, the difference between the sale price and the fair market value must be taken into account. And bargain sales between family members may lead to gift-tax consequences. — Also termed bargain purchase.[Blacks Law 8th]

bargain purchase.See BARGAIN SALE. [Blacks Law 8th]

bargain money.See EARNEST MONEY. BARGAINOR bargainor (bahr-g<<schwa>>n-ororbahr-g<<schwa>>-n<<schwa>>r). The seller in a bargained-for exchange.[Blacks Law 8th]

bargaining agent.See AGENT(2). [Blacks Law 8th]

bargainee. The buyer in a bargained-for exchange.[Blacks Law 8th]

bargaining unit.A group of employees authorized to engage in collective bargaining on behalf of all the employees of a company or an industry sector. [Cases: Labor Relations  202. C.J.S. Labor Relations §§ 173–174, 176, 178, 180–181, 183–186.][Blacks Law 8th]