"VENDOR-COMPANY" vs "VENDOR"
queryforme
(Querist) 04 May 2011
This query is : Resolved
Dear Sir,
"
M/S. __________________ a Company Incorporated under the Indian Companies Act 1956, having its Registered Office at ___________________________ Represented by its DIRECTOR _____________ W/o. _______________ Hindu, aged about 49 years hereinafter called the term “VENDOR-COMPANY”, On the “ONE PART”
TO AND IN FAVOUR OF
Mr. ______________ S/o _______ aged about __ years, residing at __________ hereinafter called the term “PURCHASER” on the other part.
The terms “VENDOR” and “PURCHASER” shall always mean and include her/his respective legal heirs, executors, and administrators, successors in office, agents and assigns.
......
THE VENDOR covenants with the purchaser that the purchaser shall peacefully and quietly use and enjoy the schedule mentioned property as his own property without any let, hindrance, obstruction, claims of demand by or on behalf of any person lawfully claiming through or in trust for the VENDOR or otherwise and the schedule mentioned property is not subject to any charge, lien, mortgage, lis pendens, litigation, acquisition proceedings order of attachment passed or effected in any court pertaining thereto etc.
In the event of any loss or damage, the VENDOR shall at his own cost indemnify the purchaser in respect of the schedule mentioned property.
THE VENDOR hereby covenants with the purchaser that all the statutory dues payable to the local body or revenue authorities in respect of schedule mentioned property have been fully paid up to the date of registration of this Deed of Sale and if anything remains unpaid or claimed in future for the dues if any, the VENDOR shall discharge the same from and out of his own funds to the concerned authorities.
"
My Query: In first paragraph its shown as “VENDOR-COMPANY” and last two paragraphs used the term VENDOR. Can we mention "VENDOR-COMPANY" as "VENDOR"?
Basavaraj
(Expert) 04 May 2011
According to me you can mention only one either VENDOR OR THE COMPANY. But you cannot mention both.
Guest
(Expert) 05 May 2011
No difference. Vendor and the vendor company denotes the same meaning, as under the Company law, a company has a separate entity like a person. Vendor is also a person and vendor company is also treated as a person.
