Blacks Law - 4th Edition
BONA FIDE
BONA FIDE. 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 Public
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.
BONA FIDE. 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 Public
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.
