A good faith purchaser is one who purchases a document of title:

Question

Quizplus · Accepted Answer

A good faith purchaser must purchase the document of title for value, in good faith, and in the ordinary course of business. This means that the purchaser must have paid for the document and must have had no knowledge of any defects or irregularities in the title. Purchasing directly from the seller or by endorsement from the seller's bank does not guarantee good faith, and understanding that the seller acted in good faith is not sufficient to qualify the purchaser as a good faith purchaser.

A Good Faith Purchaser Is One Who Purchases a Document