A basic tenet of the law, which is expressly stated in the Code, is that a purchaser of goods obtains such title as his transferor had or had power to transfer.

Purchaser

An entity or person who buys goods or services for consideration.

Transferor

The party in a transaction who transfers or conveys assets, rights, or interests to another, known as the transferee.

Title

Legal right to ownership of property or assets, often evidenced by a document.