Broker - Law Dictionary Search Results
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broker : an agent who negotiates contracts of sale (as of real estate or securities) or other agreements (as insurance contracts or mortgages) between the parties for a fee or commission compare dealer, finder NOTE: An insurance broker differs from an insurance agent in that a broker is usually considered an agent of the insured, even though he or she may receive a commission from an insurance company. A broker may sell the products of a number of insurers, and an insurer has no liability for a broker's wrongful actions (as misrepresentation or fraud). A securities broker often acts also as a dealer and so is often referred to as a broker-dealer. ...
Broker
Broker [fr. broceur, Fr., a person who breaks into small pieces], (1) an agent employed to make bargains and contracts between other persons in matters of trade, commerce and navigation, by explaining the intentions of both parties, and negotiating in such a manner as to put those who employ him in a condition to treat together personally; (2) and, more commonly, an agent employed by one party only to make a binding contract with another.There are various sorts of brokers now employed in commercial affairs, whose transactions form, or may form, a distinct and independent business. Thus, for example, there are exchange and money-brokers, stock-brokers, ship-brokers, and insurance-brokers, who are respectively employed in buying and selling bills of exchange, or promissory notes, railway scrip, goods, stocks, ships, or cargoes; or in procuring freights or charter-parties. By custom or usage brokers may become personally liable on contracts made by them on behalf of principals where the p...
mortgage broker
mortgage broker a firm that originates and processes loans for a number of lenders. Source: U.S. Department of Housing and Urban Development ...
broker dealer
a financial specialist who trades for his own account and so acts both as a broker and principal...
Commission Agent or Broker
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, expre...
Credit-broker
Credit-broker, means a person acting in the course of a business of credit brokerage carried on by him, Supply of Goods and Services Act, 1982, s. 18(1) (UK) Halsbury's Laws of England, Vol. 2, para 1855, p. 873....
Insurance broker
Insurance broker, means one who sells insurance policies without an exclusive affiliation with a particular insurance company, Black's Law Dictionary, 7th Edn., p. 808....
Money broker
Money broker, a moneychanger; a scrivener or jobber; one who lends or raises money to or for others....
Passage Broker
Passage Broker, any person who sells or lets steerage passages in any ship proceeding from the British Islands to any place out of Europe, not within the Mediterranean (see Merchant Shipping Act, 1894, s. 341). Such person requires a licence, in London of the justices of the peace, in a county borough of the borough council, and in a county district of the district council. See s. 343 of the Merchant Shipping Act, 1894....
Eligible transaction
Eligible transaction, means any transaction (A) carried out electronically on screen-based systems through a stock broker or sub-broker or such other intermediary registered under s. 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) in accordance with the provisions of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Securities and Exchange Board of India Act, 1992 or the Depositories Act, 1996 (22 of 1996) and the rules, regulations or bye-laws made or directions issued under those Acts or by banks or mutual funds on a recognised Stock Exchange; and (B) which supported by a time stamped contract note issued by such stock broker or sub-broker or such other intermediary to every client indicating in the contract note the unique client identity number allotted under any Act referred to in sub-clause (A) and Permanent Account number allotted under this Act. [Income Tax Act, 1961 (43 of 1961), s. 43(5) Prov. Expl.]...
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