Seller Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Seller, written in plain English, along with examples of how it is used.
What is 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.
History and Meaning of Seller
The term "Seller" has been used in commerce for centuries. It refers to a person who transfers the ownership of goods or merchandise to a buyer in exchange for a payment. The seller can be an individual or a business entity such as a corporation or partnership. The act of selling an item is usually done when both parties agree on the terms of the sale, including the sale price of the item, when payment is due, and when the item will be delivered.
The seller is responsible for ensuring that the goods or merchandise they are selling are in the condition represented and that they have the legal right to sell them. Depending on the nature of the goods, there may also be specific laws regulating how they can be sold, or what guarantees the seller must provide, in exchange for payment.
Examples of Seller
John bought a car from Mary, paying her the agreed-upon sale price of $10,000. In this case, Mary is the seller of the car, and John is the buyer.
Amazon is a seller on its e-commerce platform, where it offers various products and services to its customers.
A local grocery store sells produce and canned goods to its customers. In this case, the grocery store is the seller of the goods, and the customers are the buyers.
A clothing manufacturer sells a line of clothing items to a retailer. In this case, the manufacturer is the seller, and the retailer is the buyer.
Legal Terms Similar to Seller
Vendor - A term often used in real estate transactions to refer to the person or entity selling the property.
Merchant - A person or entity that buys and sells goods or merchandise.
Vendor of Goods - This refers to a seller that deals specifically with the exchange of goods or merchandise.