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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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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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