Vendor Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Vendor, written in plain English, along with examples of how it is used.
What is Vendor?
(n) A merchant or a person who sells a merchandisable property, product or goods is called a vendor. Vendor sells the product for a price to the buyer there by transferring his rights on the property. Though it holds for all sales, the term was commonly used to represent property vendors.
History and Meaning of Vendor
The term "vendor" has been used for centuries in commerce to refer to someone who sells goods or property to a buyer in exchange for payment. The origins of the word can be traced back to the Latin word "vendere," which means "to sell." In today's business world, vendors can be individuals, small businesses, or large corporations that supply goods or services to other businesses or consumers.
Examples of Vendor
- A software company selling licenses of its product to a retailer for resale to consumers is a vendor to the retailer.
- A farmer selling crops to a grocery store is a vendor to the grocery store.
- A manufacturer selling parts to another manufacturer for use in their products is a vendor to the buyer.
- An artist selling their work at a craft fair is a vendor to the attendees.
- A company that provides catering services for a corporate event is a vendor to the event planner.
Legal Terms Similar to Vendor
- Seller - Similar to the term vendor, a seller is someone who sells goods or property to a buyer.
- Supplier - A supplier is a person or company that provides goods or services to another company.
- Distributor - A distributor is a company that distributes goods to retailers or other businesses for resale to consumers.