Asked by r***@gmail.com
Is it a normal term in the S&P Agreement that the seller's lawyer is the only party to receive payment from the buyer on behalf of the seller? Does the seller have no right to receive any monies? The seller's lawyer is not necessary to inform the seller how much money was received from the buyer? Is it normal way that the seller's lawyer to act this way?
Vendor(s)’ Solicitors’ Authority
Any receipt by the Vendor(s)’ Solicitors of any monies paid by the Purchaser(s) under or pursuant to this Agreement shall be a good and sufficient discharge to the Purchaser(s) and the Vendor(s) hereby warrant that the Vendor(s)’ Solicitors shall have the full authority to receive on behalf of the Vendor(s) all monies payable by the Purchaser(s) to the Vendor(s) under this Agreement.
Vendor(s)’ Solicitors’ Authority
Any receipt by the Vendor(s)’ Solicitors of any monies paid by the Purchaser(s) under or pursuant to this Agreement shall be a good and sufficient discharge to the Purchaser(s) and the Vendor(s) hereby warrant that the Vendor(s)’ Solicitors shall have the full authority to receive on behalf of the Vendor(s) all monies payable by the Purchaser(s) to the Vendor(s) under this Agreement.
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