financially able

financially able
Solvent; credit worthy; able to pay debts and expenses as due. Means purchaser must be able to command the necessary funds to close the transaction within the required time. Hersh v. Garau, 218 Cal. 460, 23 P.2d 1022. A prospective purchaser is "financially able" if he or she has the capability to make downpayment and all deferred payments required under a proposed contract of sale. Fleming Realty & Ins., Inc. v. Evans, 199 Neb. 440, 259 N.W.2d 604, 606.

Black's law dictionary. . 1990.

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  • financially able — Solvent; credit worthy; able to pay debts and expenses as due. Means purchaser must be able to command the necessary funds to close the transaction within the required time. Hersh v. Garau, 218 Cal. 460, 23 P.2d 1022. A prospective purchaser is… …   Black's law dictionary

  • able to purchase — Ability in sales contracts, dependent on ability to purchase, usually means financial ability. Anderson v. Craig, 111 Mont. 182, 108 P.2d 205, 206. Purchaser must have financial ability and legal capacity to acquire land. Campbell v. Hood,… …   Black's law dictionary

  • able to purchase — Ability in sales contracts, dependent on ability to purchase, usually means financial ability. Anderson v. Craig, 111 Mont. 182, 108 P.2d 205, 206. Purchaser must have financial ability and legal capacity to acquire land. Campbell v. Hood,… …   Black's law dictionary

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  • able buyer — A purchaser who has the money at the time to make any cash payment that is required and who is in condition financially to meet any deferred payments. Reynor v Mackrill, 181 Iowa 210, 164 NW 335, 1 ALR 523. Not one who might have property upon… …   Ballentine's law dictionary

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