Meaning of the legal terms

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Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2012 what is the egal importance in foll words?
1.earnest money
2.advance money
3.earnest money & part payment

how it makes impact on the purchase of the agreement when it is not executed?

Amol S Joglekar

Amol S Joglekar (Expert)
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04 May 2012 Earnest money is the word used in 'bids'. The earnest money is required to be deposited with the vendor in order to make the purchaser entitled for BID. We have a very good habit of using synonyms. The question of advance money will arise, as you rightly said, after the execution of AGREEMENT

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