Bargain And Sale, a contract in relation to real estate, which has introduced a form of conveyance now generally used in England and this country. By the ancient English law, there could be no transfer of lands without livery of seisin, which was an actual or constructive delivery of possession by a prescribed formality. A sale of lands in any other mode did not change the title, but it was held that if a pecuniary consideration had been paid, a contract of sale would raise a use for the benefit of the vendee, or in other words, that the effect would be that the vendor would hold the lands for the use of the vendee, and could be compelled to account for the profits. The statute 27 Henry VIII., called the statute of uses, annexed the possession to the use, or executed the use, as the lawyers expressed it, thereby making the party for whose use the lands were held, technically called the cestuy que use, the complete owner of the lands. By the same statute it was required that a deed of bargain and sale should be enrolled in one of the courts of Westminster, or in the county where the lands lay, which furnished the suggestion of the practice now universal in this country of recording deeds.
The effect was that in cases of freehold - the statute of uses being held not to apply to lesser estates - the deed of bargain and sale transferred a complete title without livery of seisin; and that form of conveyance in consequence was brought into common use. (See Trusts, and Uses).