Definition of DEL CREDERE in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DEL CREDERE
In mercantile law. A phrase borrowed from the Italians, equivalent to our word "guaranty" or "warranty," or the Scotch term "warrandice;" an agreement by which a factor, when he sells goods on credit, for an additional commission, (called a "del credere commission,") guaranties the solvency of the purchaser and his performance of the contract. Such a factor is called a "del credere agent" He is a mere surety, liable to his principal only in case the purchaser makes default. Story, Ag. 28; Lemnos Broad Silk Works v. Spiegelberg, 217 N.Y.S. 595, 597, 127 Misc. 855; Commercial Investment Trust v. Stewart, 235 Mich. 502, 209 N.W. 660, 661; Commonwealth v. Thorne, Neale & Co., 264 Pa. 408,10? A. 814, 815; State v. Tuffs, 54 Mont. 20, 165 P. 1107, 1108.
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That's the definition of DEL CREDERE in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
