Alright people, i found the solution to this error issue everytime you want to purchase apps and it would always error out. Well I was doing a work around for this issue and the work around was to login into android market with any browser, buying the apps through there and then it would send it to my phone so i can download it and install it. Well I got fed up with that and decided to fix the issue.
First, I went and made sure what version of Android Market i was running, and I was running Android Market 3.4.4.
Second, i went to the internet and looked up Vending.apk 3.4.4, it returned some searches, found a link and downloaded the Vending.apk to my desktop computer. Heres the link I used by the way. http://www.***********/android/M2Q8q090/AndroidMarketv344-comandroidve.html
Third, I connected my phone to my computer, opened command prompt and accessed my phone through adb commands. Once in my phone, I pulled the Vending.apk (this makes a back up), removed Vending.apk, renamed the apk that I downloaded from the website to Vending.apk, pushed that apk to my phones app directory and finally reeboted my phone!! Woala!! Fixed!!!
In others words, make things short and simple, I just reinstalled the dam thing!! Lol

.. I did it through adb commands because to me thats the safest way to reinstall Android Market or any system app that does not give you the option to uninstall through the "manage apps" GUI. Im pretty sure you can use Root Explorer to do this, but like I said, Just use whatever you feel more comfortable and safe with!
Awesome, hope this puts an end the android market purchassing issue madness! Just like it did for me!! Good luck!!
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