Commission Agent Or Broker
Legal definition for Indian law research
Definition
Commission Agent or Broker, means a person who in the ordinary course of business makes contracts for the sale or purchase of excisable goods for others. [Central Excise Act, 1944 (1 of 1944), s. 2 (aaa)]
In commerce, the order by which anyone traffics or negotiates for another; also, and much more frequently, the percentage given to factors or agents for transacting the business of others.
Earning Commission.--Commission may be earned by bringing contracting parties together, although an actual contract may not be made, Green v. Bartlett, (1863) 32 LJCP 261. From a contract to employ for a time certain on commission may be implied a contract to give opportunity to earn the commission throughout the time, Turner v. Goldsmith, 1891 (1) QB 544; Warren v. Agdeshman, 38 TLR 588].
Commission from the other Party.--That an agent employed by his principal to sell or otherwise to negotiate with another take a pecuniary or other benefit from that other for himself as part of the negotiation, expressly or impliedly, the benefit belongs to the principal and he can recover it from the agent, De Bussche v. Alt, (1878) 8 Ch D 286, and the secret taking of such a benefit works a forfeiture of the agent's legal commission, Andrews v. Ramsay, 1903 (2) KB 635, and justifies dismissal, Boston Deep Sea Fishing Co. v. Ansell, (1888) 39 Ch D 339. See also the Prevention of Corruption Acts, 1906 and 1916, and the Prevention of Corruption Order, 1918, No. 321. And see CORRUPTIONAND BRIBE.
In commerce, the order by which anyone traffics or negotiates for another; also, and much more frequently, the percentage given to factors or agents for transacting the business of others.
Earning Commission.--Commission may be earned by bringing contracting parties together, although an actual contract may not be made, Green v. Bartlett, (1863) 32 LJCP 261. From a contract to employ for a time certain on commission may be implied a contract to give opportunity to earn the commission throughout the time, Turner v. Goldsmith, 1891 (1) QB 544; Warren v. Agdeshman, 38 TLR 588].
Commission from the other Party.--That an agent employed by his principal to sell or otherwise to negotiate with another take a pecuniary or other benefit from that other for himself as part of the negotiation, expressly or impliedly, the benefit belongs to the principal and he can recover it from the agent, De Bussche v. Alt, (1878) 8 Ch D 286, and the secret taking of such a benefit works a forfeiture of the agent's legal commission, Andrews v. Ramsay, 1903 (2) KB 635, and justifies dismissal, Boston Deep Sea Fishing Co. v. Ansell, (1888) 39 Ch D 339. See also the Prevention of Corruption Acts, 1906 and 1916, and the Prevention of Corruption Order, 1918, No. 321. And see CORRUPTIONAND BRIBE.
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