Agreement language.
Asad
(Querist) 11 March 2012
This query is : Resolved
Dear Respected Experts!
My company was interested to buy a warehouse in Bhiwandi near Mankoli Naka.
I recieved agreement copy to sign but as this is my first buying experience could not understand the language.
Instead of seller VENDOR is written.and
CONFIRMING PARTY is also written.
Can you explain me these two terms why not seller instead of vendor?
Secondly the documents attached is having stamp of Gram Panchayat/Sarpanch is that exceptable.
Other papers are sign by Zila Adhikari
I would really look forward toward the respected experts to guide me.
Kind regards,
Asad
Deepak Nair
(Expert) 12 March 2012
Vendor and Seller means the same.
Confirming party is a party who has no interest in the property, but is part of the agreement who confirms that the property is sold by one party and purchased by the other.
Confirming party is not a necessary ingredient in such agreements, but it is not illegal.
Regarding the attachments, if it is true copy and attested by teh sarpanch, then it is invalid. The copies of documents can be attached only by Gazetted officer, Notary, Registrars and Special Executive officers. Thus, it is advisable to ask the Vendor to provide the documents attested by either of the above authorities.
Asad
(Querist) 12 March 2012
Dear Mr. Deepak Nair,
Thank you very much for your comments/guidance.
But I had different understanding about the word vendor.
The property papers are signed by Surpanch and zila adhikari.
As the some areas of bhiwandi still falls under the juridiction of surpanch.
Please shed light.
Thanks!
Asad
Guest
(Expert) 13 March 2012
Dear Asad,
It seems you are a Director of some company. If so, your company secretary or CA could well have clarified on your doubt.
Secondly, when you prefer to differ with the opinion of some expert, it would have been better for you to give your own understanding/ interpretation about the term "vender" before you could have sought the opinion of members, instead of trying to test the knowledge of the experts. You should not have expected that the experts would have been able to guess about your own understanding about the terms and would explain the difference between your understanding and what legally that should be.
Why not come forward with your specific doubt, rather than posting an academic query? Academic query attaracts only diverse opinions with which you can get more confused.
Guest
(Expert) 13 March 2012
Also, your query has been posted in wrong category of property law, while your question pertains to legal documents.
Asad
(Querist) 14 March 2012
Dear Mr. Dhingra,
Good day to you!
Sorry could not reply earlier.
Actually self was bit confused on the term "Vendor" and that too in property papers.
Self is not from this domain and as common man I understand anyone who sells is a vendor and not necessary he be owner.
But was surprised to see this on property papers, hence thought of getting help from the experts.
You are right I should have posted this in legal documents.
Thanks a lot for your feed back.
Best wishes,
Asad
