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n. slang for bona fide purchaser, which means someone who purchased something (e.g. a bond, a promissory note, or jewelry) with no reason to be suspicious that it was stolen, belonged to someone else, or was subject to another party's claim. The BFP must have paid a full and fair price and have received the item in the normal course of business, otherwise he/she might have some doubts ("wanta buy a watch, cheap?" from a character on a street corner).

See also: bona fide purchaser 

From the Newswire

The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications