seller

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seller

n. one who sells goods or other property to a buyer (purchaser). (See: sell, sale)

See: creditor, dealer, merchant, supplier, vendor

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.
     3. The duties of the seller are, 1. To deal with fairness. 2. To deliver the thing sold at the time and place appointed, and to take care of it until delivery; but when everything the seller has to do with the goods is complete, the property and the risk of accident to the goods, rests in the buyer, even before delivery, or payment. Noy's Max. ch. 24; 7 East, 571; 2 Bl. Com. 448. 3. To warrant the title of personal property when he sells it as his own, when it is in his possession. 2 Kent, Com. 374; 1 Lord Raym. 593; 1 Salk. 210.
     4. The rights of the seller are, 1. To be paid the price agreed upon. 2. To be indemnified for any expenses he may have incurred to preserve the thing sold for the buyer, after the title to it has passed to the latter. 3. To stop the thing in transitu when the buyer has failed and the price has not been paid. See Stoppage, in transitu. Vide Purchaser, and the authorities there cited; Bouv. Inst. Index, h.t.

References in periodicals archive ?
Sellers, Jesse Ryan Drew, Shayna Marion Marie Drew; buyers, David Burkholder, Lucille Burkholder; Deed; PT NW/4 NE/4 16-6-3.
Exemption Form: In the situation described above, current SSUTA Section 312 provides that a purchaser that does not hold a direct-pay permit must provide the seller with an MPU Exemption Form.
Now, with plenty of supply and falling prices, sellers are lowering asking prices and scurrying to doll up their homes to lure buyers who are comfortably back in the saddle and using their newfound leverage to take revenge.
Of course, sellers can argue that the expansion of a client's operations or change in client's circumstances are endemic to the client and should be included in the purchase price.
Sellers can avoid costly late-stage reinvestment in infrastructure.
What sellers want most is to minimize the magnitude of their exposure and the length of time during which they can be subjected to indemnification claims.
Nevertheless, there is typically a flurry of preceding emails and phone calls between buyer and seller.
Planer, a CPA with the Planer Group in Los Angeles, recommends that sellers proactively clean up their financial statements before putting the company up for sale.
A) Hosting an electronic marketplace on the financial holding company's Internet web site by providing hypertext or similar links to the web sites of third party buyers or sellers.
Depending on the technology model adopted, sellers either will not be audited or will be subject to a limited scope audit.
Even when the organization of drug distribution has been the object of historical investigation, prominent organized crime figures responsible for large-scale importation and wholesale distribution rather than retail level sellers have drawn the most attention.
One of the first questions asked by all potential buyers and potential sellers is, "What is an appropriate price for the business?