Vendee Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Vendee, written in plain English, along with examples of how it is used.
What is Vendee?
(n) A merchant or individual who purchases any goods or assets by an agreement paying the value or monetary consideration and taking the possession and ownership is called vendee.
History and Meaning of Vendee
The term "vendee" comes from French, specifically the verb "vendre" which means "to sell." In legal terms, the vendee is the person or party who purchases goods or assets from a seller. The vendee is responsible for paying the agreed-upon price for the goods or assets and in turn, takes possession and ownership of the items.
Examples of Vendee
When someone purchases a car from a dealership, they are the vendee in the transaction.
A business that buys raw materials from a supplier is also a vendee.
In real estate, the person who buys a property from a seller would be considered the vendee.
Legal Terms Similar to Vendee
Vendor - The vendor is the seller in a transaction, and the opposite of the vendee.
Purchaser - This is another word for vendee, and is often used interchangeably.
Buyer - Similar to vendee and purchaser, the buyer is the party who is purchasing goods or assets from a seller.