Del Credere - Law Dictionary Search Results
Home Dictionary Name: del credereDel credere
Del credere [a phrase borrowed from the Italians, equivalent to our word guaranty or warranty, or the Scots term warrandice], an agreement by which a factor, when he sells goods on credit for an additional commission (called a del creder commission), guarantees the solvency of the purchaser and his performance of the contract. Such a factor is called a del creder agent; as to his position, see Thomas Gabriet & Sons v. Churchill & Sim, (1914) 3 KB 1272. He is a mere surety, liable only to his principal in case the purchaser makes default; and the agreement need not be in writing, as it is not within s. 4 of the Statute of Frauds [Sutton & Co. v. Grey, (1894) 1 QB 285], Story on Agency; Smith's Merc. Law....
Commission del credere
Commission del credere, where an agent of a seller undertakes to guarantee to his principal the payment of the debt due by the buyer. The phrase del credere is borrowed from the Italian language, in which its signification is equivalent to our word guarantee or warranty, Story's Agency, 28....
Del credere agent
Del credere agent, is the agent of the seller only up to a point. Beyond that he is either a principal or an agent of the buyer see Seksari Cotton Mills v. State of Bombay, AIR 1953 SC 278 (281).Del credere agent, is one who, usually for extra remuneration, undertakes to indemnify his employer against loss arising from the failure of persons with whom he contracts to carry out their contracts, Halsbury's Laws of England 1(2), para 13, p. 11....
del credere
del credere [Italian, of belief, of trust] : relating to or guaranteeing performance or payment by third persons to a principal in connection with transactions entered into by an agent for the principal usually in return for higher commissions ...
del credere agent
del credere agent see agent ...
Del credere
An agreement by which an agent or factor in consideration of an additional premium or commission called a del credere commission engages when he sells goods on credit to insure warrant or guarantee to his principal the solvency of the purchaser the engagement of the factor being to pay the debt himself if it is not punctually discharged by the buyer when it becomes due...
Dealer
Dealer, in relation to any dangerous machine or any part thereof, means a person who, or a firm or a Hindu undivided family which, carries on, directly or otherwise, the business of buying, selling, supplying or distributing any dangerous machine or any part thereof, whether for cash or for deferred payment or for commission, remuneration or other valuable consideration, and includes-(i) a commission agent who carries on such business on behalf of any principal;(ii) an importer who sells, supplies, distributes or otherwise delivers any dangerous machine to any user, manufacturer, repairer, consumer or any other person. But does not include a manufacturer who sells, supplies, distributes or otherwise delivers any dangerous machine or any part thereof to any person or category of persons referred to in this clause. [Dangerous Machines (Regulation) Act, 1983 (35 of 1983), s. 3 (e)](2) includes a person who is engaged--(a) in building bodies for attachment to chassis; or (S. 2 (8)(b) The M...
Ducroire
Ducroire [fr.], guaranty; equivalent to DEL CREDERE, see....
Guaranty, or Guarantee
Guaranty, or Guarantee, a promise to a person to be answerable for the payment of a debt or the performance of a duty by another, in case he should fail to perform his engagement. An offer to guarantee until it be accepted is not binding. At Common Law a guarantee need not have been in writing, but the Statute of Frauds (29 Car. 2, c. 3), s. 4, enacts that 'No action shall be brought whereby to charge the defendant upon any special promise to answer for the debt, default, or miscarriages of another person, unless the agreement upon which such action shall be brought, or some memoran-dum or note thereof, shall be in writing, and signed by the party to be charged therewith or some other person thereunto by him lawfully authorized.' In case of guarantees, great inconvenience had resulted from the construction put upon the above s., viz., that the consideration for the promise of the guarantor must appear upon the written instru-ment. To remedy this, the Mercantile Law Amend-ment Act, 1856...
Consolato del mare
Consolato del mare, a code, ascribed to the fourteenth century and Barcelona, of the usages governing the intercourse of the maritime communities of the Mediterranean; see Encyc. of Eng. Law, where the authorities are referred to....
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