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1. an arm and a leg, a great deal of money: to cost an arm and a leg. 2. arm in arm, with arms linked together or intertwined: They walked along arm in arm. 3. at arm's length, on terms lacking in intimacy; at a distance: to keep business associates at arm's length. 4. in the arms of Morpheus, asleep.5. put the arm on, Slang. a. to solicit or borrow money from.. arm in arm, with arms linked together or intertwined: They walked along arm in arm. 3. at arm's length, on terms lacking in intimacy; at a distance: to keep business associates at arm's length. 4. in the arms of Morpheus, asleep. 5. put the arm on, Slang.
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.he 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.