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private treaty

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private treaty

–noun
a property sale based on terms resulting from a conference between buyer and seller.

Origin:
1855–60
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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Legal Dictionary

Main Entry: private treaty
Function: noun
: a sale of property on terms determined between the buyer and the seller private treaty than his neighbors did at auction>
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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