Seller
(n) Seller is the person who conveys the ownership and possession of a property, article or goods or merchandise owned and held by him, to another person in exchange for a consideration in money value.
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SELLER, contracts. One who disposes of a thing in consideration of money; a
vendor.
2. This term is more usually applied in the sale of chattels, that of vendor in the sale of estates.
seller
n. one who sells goods or other property to a buyer (purchaser).
senior lien
n. the first security interest (lien or claim) placed upon proper...
Seller's Obligations
Generally, the seller's primary obligations are to transfer ownership of the goods and deliver the goods. A seller may agree with the buyer to perform other obligations.
A seller's taking advantage of a buyer due to their unequal bargaining positions, perhaps because of the buyer's recent trauma, physical infirmity, ignorance, inability to read or inability to understand the language.
The seller of goods and services must give certain implied terms. For goods these are satisfactory quality, fitness for purpose, conformity with sample or description and the right to sell the goods.
The seller; the person selling, used frequently to describe the seller of a house or land.
Venire de novo ...
Lost volume seller
Definition - Noun
: a seller who sells to a buyer after a previous buyer has breached a contract for sale but who would have been able to make a sale to the second buyer even if the first buyer had not breached ...
EX-FACTORY - Seller owns goods until they are picked up at his factory; selling price is the cost of the goods.
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A buyer and a seller enter into an agreement where the buyer agrees to pay $2500 for the seller's Rolex wrist watch.
The seller; the person selling.
Venue
This has the same meaning as in everyday English except that in a legal context it usually refers specifically to the location of a judicial hearing.
The seller; the person selling.
VARIANCE
An exception to a zoning ordinance, usually granted by a local government.
Even in English, a seller is known alternatively as a vendor. In Latin, a male seller is a venditor and a female, venditrix.
REFERENCES:
Duhaime, Lloyd, Legal Definition of Emptio
Duhaime, Lloyd, Legal Definition of Venditio bonorum ...
consumer form contract which is generally given to consumers at point-of-sale, with no opportunity for negotiation as to it's terms, and which, typically, sets out the terms and conditions of the sale, usually to the advantage of the seller.
NCND Agreement An international trade instrument; "non circumvention/non disclosure agreement" used in the preliminary stages of a business transaction where the Seller and Buyer do not know each other, ...
Consignment - An arrangement whereby the consignor (seller) remains the owner of the property until such time as the consignee (buyer) sells the goods; ...
A buyer's right to end a contract for a serious breach committed by the seller. The buyer rejects the goods and in return gets a refund. In addition, a buyer may be entitled to damages (see ‘damages').
Testator ...
Statute of Repose: A statute of repose for products completely cuts off liability of the manufacturer or seller of a defective product after an arbitrarily-established number of years, such as 10 years or 15 years.
After 1984 videotape sellers were more likely to be prosecuted under the Video Recordings Act rather than the OPA. The VRA requires that all videos must have a certificate from the BBFC.
When a home is sold, the seller may be able to transfer the mortgage to the new buyer. This means the mortgage is assumable. Lenders generally require credit review of the new borrower and may charge a fee for the assumption.
Delivery of goods sold passes title to the goods, even though full payment has not been made; the seller may sue for the amount due him, but cannot recover the goods.
A Federal Trade Commission rule that requires a seller to ship goods ordered by mail, phone, computer or fax to you within the time promised or, if no time was stated, within 30 days.
Product liability - Legal responsibility of manufacturers and sellers to buyers, users, and bystanders for damages or injuries suffered because of defects in goods.
Promisee - An individual to whom a promise is made.
Product Liability: A type of strict liability in which the manufacturer or seller is strictly liable for injuries caused by defective products.
Punitive Damages: Damages given for the purpose of punishing the defendant.
CAVEAT EMPTOR Let the buyer beware; the principle that the seller of a product cannot be held responsible for its quality unless it is guaranteed in a warranty.
CHANCERY A court of equity.
SALE NOTE.
A memorandum given by a broker to a seller or buyer of goods, stating the fact that certain goods have been sold by him on... more ...
IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE - Warranty that exists when a seller should know that a buyer is relying on the seller's expertise.
Fair market value - The value for which a reasonable seller would sell an item of property and for which a reasonable buyer would buy it.
Express Warranty - An affirmation of fact or promise made by the seller to the buyer that is relied upon by the buyer in agreeing to the contract.
Expungement - Official and formal erasure of a record or partial contents of a record.
Products Liability: Area of the law involving the liability of manufacturers and sellers of dangerous or defective goods or products.
Promulgate: To officially announce.
Purchase Agreement Or Purchase Offer: Also, sales agreement and earnest money contract. Agreement between buyer and seller of property which sets forth in general the price and terms of a proposed sale.
Part of the sale price of a business may be for goodwill, in which case the seller may not solicit former customers for his new business.
Product Liability
An area of law dealing with the liability of manufacturers or sellers of goods that cause damage or injury to consumers.
Term: Product Liability
Definition: An area of law dealing with the liability of manufacturers or sellers of goods that cause damage or injury to consumers.
 See also: Law, Person, State, Property, Information
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