Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
commission del credere
The commission received by the seller's agent for guaranteeing a buyer's debt.
del credere
adj. [Italian] Of belief or trust."'Del credere' agents for the sale of goods, in consideration of a higher payment than usual, become responsible for the solvency of the person to whom they sell them." Thomas E. Holland, The Elements of Jurisprudence 304 (13th ed. 1924).
del credere agent
an agent who guarantees the solvency of the third party with whom the agent makes a contract for the principal. 0 a del credere agent receives possession of the principal's goods for purposes of sale and guarantees that anyone to whom the agent sells the goods on credit will pay promptly for them. for this guaranty, the agent receives a higher commission for sales. the promise of such an agent is almost universally held not to be within the statute of frauds. - also termed del credere factor.
del credere agent.
See AGENT.
del credere bailiff
See FACTOR.
del credere commission
A factor's commission that is increased because the factor guarantees the payment to the principal of all debts that become due through the agency relationship.
del credere factor
See del credere agent under AGENT.