Definitions for del credere
del credere

WikipediaRate this definition:0.0 / 0 votes

1. Del credere

   A del crede commission is a commission which is paid as direct commission instead of paying through someone else. Del Crede commission is that of a surety who is liable to the principal should the purchaser make default. The agreement between agent and principal need not be reduced to or evidenced by writing, for the undertaking is not a guarantee within the Statute of Frauds (29 Car 2 c 3).A Del Credere Agent not only establishes a privity of contract between the principal and the third party but also guarantees to the principal the due performance of the contract by the third party. The agent is liable, however, only when the third party fails to carry out their contract, e.g., by insolvency. The agent is not liable to the principal if the third party refuses to carry out the contract, for example if the buyer refuses to take delivery. In the case of United States v. Masonite Corp., 316 U.S. 265 (1942), the U.S. Supreme Court evaluated the antitrust status of use of a del credere agency business structure. Such an arrangement often may, as it did in the Masonite case, involve the principal's fixing the price at which the agent sells the goods that the principal supplies it. The Supreme Court held that, although the parties’ agency agreement could be assumed genuine rather than sham, use of del credere agency does not necessarily insulate the firms from antitrust liability.The Court observed that the label the parties used for their agreement was not significant, because the Court “has quite consistently refused to allow the form into which the parties chose to cast the transaction to govern.” Id. at 278. Moreover, although the contract may be useful “in allocating risks between the parties and determining their rights inter se, its terms do not necessarily control when the rights of others intervene,” such as those of creditors or the public. Id. at 276–77. Because the arrangement had the purpose of fixing competitors’ prices it was held illegal under Sherman Act § 1. The holding in Masonite thus seems to overrule partially the Supreme Court's earlier holding in United States v. General Electric Co., 272 U.S. 476 (1926).

Webster DictionaryRate this definition:1.0 / 1 vote

1. 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

2. Etymology: [It., of belief or trust.]

WikidataRate this definition:3.0 / 1 vote

1. Del credere

   A del credere agent, in English law, is one who, selling goods for his principal on credit, undertakes for an additional commission to sell only to persons who are absolutely solvent. His position is thus that of a surety who is liable to his principal should the vendee make default. The agreement between him and his principal need not be reduced to or evidenced by writing, for his undertaking is not a guarantee within the Statute of Frauds. A Del Credere Agent is an agent who not only establishes a privity of contract between his principal and the third party, but who also guarantees to his principal the due performance of the contract by the third party. He is liable, however, only when the third party fails to carry out his contract, e.g., by insolvency. He is not liable to his principal if the third party refuses to carry out his contract for example, if the buyer refuses to take delivery. In the case of United States v. Masonite Corp., 316 U.S. 265, the U.S. Supreme Court evaluated the antitrust status of use of a del credere agency business structure. Such an arrangement often may, as it did in the Masonite case, involve the principal’s fixing the price at which the agent sells the goods that the principal supplies it. The Supreme Court held that, although the parties’ agency agreement could be assumed genuine rather than sham, id. at 277, use of del credere agency does not necessarily insulate the firms from antitrust liability.

Dictionary of Nautical TermsRate this definition:0.0 / 0 votes

1. del credere

   A percentage on a cargo, under particular circumstances of trust. Also, the commission under which brokers sometimes guarantee to the insured the solvency of the underwriters.

How to pronounce del credere?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say del credere in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of del credere in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of del credere in Pythagorean Numerology is: 7

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Del_Credere
2. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/del credere
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=del credere
4. ^ Dictionary of Nautical Terms
   https://www.gutenberg.org/cache/epub/26000/pg26000-images.html#:~:text=del credere