Del credere - Encyclopedia




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DEL CREDERE (Ital. "of belief" or "trust"). 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.

See also Broker; Guarantee.

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