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 ?
Seller, Robert Leslie Melliott; buyer, Franklin Investments Inc.
The form simply is intended to reallocate the burden of determining the proper apportionment of tax away from the seller and onto the purchaser, which presumably maintains sufficient business records to support the apportionment of sales/use tax to multiple jurisdictions.
A motivated seller is more apt to say, `I'm not getting 40 people trampling my door down.
Also, the buyer will ask that the seller achieve certain benchmarks, often measured by client retention, to receive the full purchase price.
It requires the seller to provide performance evidence (billing), and also requires receipt and acceptance processes.
Partner Brian Leary exclusively represented the seller with Broker Kenneth Freeman;
Typically an agreement lets a seller accelerate the retirement date through triggers such as working fewer hours than a certain quota, giving notice, permanent disability or death, which triggers buyout payments to heirs.
If the potential acquirer is a bank, the seller needs to know what other insurance agency acquisitions the bank has completed and to attempt to find out how successful those acquisitions have been.
Hence, a seller can also reduce buyer angst by fully and objectively disclosing the condition of the vehicle in the eBay listing.
Besten, who primarily represents companies valued at less than $5 million, says a seller should interview a potential broker and investigate important characteristics like competence, trustworthiness, familiarity with the industry and its current trends, markets of operation, and length of time in business.
1) A buyer (or seller) that provides information concerning the buyer (or seller) and the products or services it seeks to buy (or sell) and allows sellers (or buyers) to submit expressions of interest, bids, offers, orders and confirmations relating to such products or services; or