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LSDefine

Simple English definitions for legal terms

del credere factor

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A quick definition of del credere factor:

A del credere factor is an agent who guarantees that the person they make a contract with for their client will pay for the goods or services they receive. They receive a higher commission for this service. They are not legally required to be able to make contracts themselves, but they must be able to perform their duties.

A more thorough explanation:

Definition: A del credere factor is an agent who guarantees the solvency of the third party with whom the agent makes a contract for the principal. The 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.

Example: A clothing manufacturer hires a del credere factor to sell their products to retailers. The del credere factor guarantees that the retailers will pay for the goods they purchase on credit. If a retailer fails to pay, the del credere factor is responsible for the payment. In return for this guarantee, the del credere factor receives a higher commission for sales.

Explanation: The del credere factor acts as a guarantor for the principal, ensuring that the third party will pay for the goods they purchase on credit. This provides a level of security for the principal, who may not have the resources to pursue legal action against a non-paying third party. The del credere factor assumes the risk of non-payment and is compensated for this risk with a higher commission.

del credere commission | delectus personae

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soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
ClassyPleasantHeron
10:01
The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.
soapy
10:06
Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?
1a2b3c4d26z
10:06
Man
1a2b3c4d26z
10:07
Walkin to the bus
1a2b3c4d26z
10:07
What a good day to get into law school
ClassyPleasantHeron
10:11
@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.
soapy
10:12
Ahh, got it. Thank you for the insight!
ClassyPleasantHeron
10:14
You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.
soapy
10:15
I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.
i think it just indicates a change in status like under review or stages of review
my stanford address went long as soon as it was marked complete lmao
soapy
10:25
I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?
soapy
10:25
Also, can we send another LoR to a school that we've already applied to?
soapy
10:26
Or another essay?
10:30
i'll allow it
soapy
10:31
<3 thanks Fart Butt
1a2b3c4d26z
10:31
If I get rejected by a school bc I check my statuses during work then it wasn’t meant to be
10:32
cautionary tail re reddit posts: https://www.youtube.com/watch?v=5jZAQAuqSfs
How else will they know we fuck
Need to know aboot 6 pack abs
How many 666 people apply?
lolololol
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