Arm's Length Transaction

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Arm's Length Transaction

A transaction in which the buyer and the seller have no significant, prior relationship. In an arm's length transaction, neither party has an incentive to act against his/her own interest. That is, the seller seeks to make the price as high as he/she can, and likewise the buyer seeks to make it as low as he/she can. The negotiations for an arm's length transaction result in the arm's length price, which is almost always close to the market value of the asset being sold. The term is often used in real estate transactions because family members often sell property to each other at something other than the arm's length price.
References in classic literature ?
Therefore, the constable, still holding Kit in the same manner, and pushing him on a little before him, so as to keep him at about three-quarters of an arm's length in advance (which is the professional mode), thrust him into the vehicle and followed himself.
And yet," said Pumblechook, turning to the landlord and waiter, and pointing me out at arm's length, "this is him as I ever sported with in his days of happy infancy
The first thing done by Madame Leonore was to put her hands on Dominic's shoulders and look at arm's length into the eyes of that man of audacious deeds and wild stratagems who smiled straight at her from under his heavy and, at that time, uncurled moustaches.
But she wouldn't let you--she pushed you off and kept you at arm's length.
The odd-job man departed, bearing his heaving bag at arm's length.
Slackbridge, the orator, looked about him with a withering smile; and, holding out his right hand at arm's length (as the manner of all Slackbridges is), to still the thundering sea, waited until there was a profound silence.
Father," said Young Jerry, as they walked along: taking care to keep at arm's length and to have the stool well between them: "what's a Resurrection-Man?
In this attitude, he fixed himself, the moment he made his appearance; and, holding out a small piece of orange-peel at arm's length, exclaimed, in a growling, discontented voice.
Having watched the four from almost within arm's length (and they me) for several minutes, they rushed into the water at full gallop with the greatest impetuosity, and emitted at the same time their bark.
Then she tore herself away to arm's length, passionate, queering, and stood gazing at Saxon.
I wish you well through it, and safe back again," I said, and then added, so as not to keep him altogether at arm's length on the subject of the Fairlies, "I am going down to Limmeridge to-day on business.
He retreated out of arm's length, and picked up a large flint.