Del Credere

Defined in 4 dictionaries — Black's (1910), Kinney (1893), Stimson (1881), Burrill (1850)

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

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 only to his principal in case the purchaser makes default. Story, Ag. 28; Loeb v. Heilman, 83 N. Y. 603 ; Lewis v. Brehme, 33 Md. 424, 3 Am. Rep. 190; Lever-ick v. Meigs, 1 Cow. (N. Y.) 663; Ruffner v. Hewitt, 7 W. Va. 604.

A Law Dictionary and Glossary

George C. Kinney · 1893

ital. Of belief, trust or warranty; which a factor, in consideration of an gages to warrant the solvency of one to whom guaranty. Del credere commission: the thus agreed upon.

Glossary of Technical Terms, Phrases, and Maxims of the Common Law

Frederic Jesup Stimson · 1881

«7a/. Of belief or warranty. An agreement made by a factor or broker for an additional commission, to warrant the solvency of the parties to whom he sells; a kind of guaranty or suretyship.

A New Law Dictionary and Glossary

Alexander M. Burrill · 1850

Ital. (Of belief, trust or warranty.)

In mercantile law. A term used to denote the agreement by which an agent or factor, in consideration of an additional premium or commission, when he sells goods on credit, engages to insure, warrant or guarantee to his principal the solvency of the purchaser. Foley on Agency, 4 1. Russell on Factors, 2. The additional commission thus given is called a del credere commission. 6 Bro. P. 0.28*1. 2 Steph. Com. 128. A del credere engagement is now settled to be that of a surety or guarantor, the factor becoming liable only in case of the default of the purchaser. 2 Kent's Com. 625, and note. Story on Agency, § 33, and note. DEL TEMPS DOUNT MEMORY NE