Definitions for "Arm's-length transaction"
Legal slang meaning that there existed no special relationship between the parties involved in any matter which would taint the result.
A transaction negotiated by unrelated parties, each acting in his/her own best interest.
A transaction in which both buyer and seller act willingly and under no pressure, with knowledge of the present conditions and future potential of the property, and in which the property has been offered on the open market for a reasonable length of time and there are no unusual circumstances. array. An arrangement of statistical data according to numerical size.