Meaning of the legal terms
This query is : Resolved
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?
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
(Expert)
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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