Legal Definitions - Vendor

A vendor is a seller, particularly in the context of real property transactions. This term identifies the party transferring ownership or goods, often contrasted with the "vendee" who is the buyer. It is also sometimes referred to as a "venditor."

Vendor

A vendor is the individual or entity that sells goods, services, or property to another party in a transaction. This term is commonly used in legal and business contexts to identify the seller, particularly in contracts involving the transfer of ownership or the provision of services.

• Example 1: Real Estate Transaction

  A homeowner decides to sell their vacation cottage and lists it on the market. After finding a buyer, they sign a sales agreement to transfer ownership.

  Explanation: In this situation, the homeowner is the vendor because they are the party selling the real property (the cottage) to the buyer.

• Example 2: Business-to-Business Services

  A software development company is contracted by a large corporation to create a custom inventory management system. The contract specifies the deliverables, timeline, and payment terms.

  Explanation: The software development company acts as the vendor because it is providing a specialized service (custom software development) to the corporation in exchange for payment.

• Example 3: Supply of Goods

  A local bakery regularly purchases flour, sugar, and other ingredients in bulk from a food wholesaler. The wholesaler delivers the ingredients to the bakery each week.

  Explanation: The food wholesaler is the vendor in this scenario, as they are selling and supplying goods (baking ingredients) to the bakery.