BROKERS definition

BROKERS





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1 definition found

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  BROKERS, commerce. Those who are engaged for others, in the negotiation of 
  contracts, relative to property, with the custody of which they have no 
  concern. Paley on Agency, 13; see Com. Dig. Merchant, C. 
       2. A broker is, for some purposes, treated as the agent of both 
  parties; but in the first place, he is deemed the agent only of the person 
  by whom he is originally employed; and does not become the agent of the 


  other until the bargain or contract has been definitely settled, as to the 
  terms, between the principals. Paley on Ag. by Lloyd, 171, note p; 1 Y. &, 
  J. 387. 
       3. There are several kinds of brokers, as, Exchange Brokers, such as 
  negotiate in all matters of exchange with foreign countries. 
       4. Ship Brokers. Those who transact business between the owners of 
  vessels, and the merchants who send cargoes. 
       5. Insurance Brokers. Those who manage the concerns both of the insurer 
  and the insured. 
       6. Pawn Brokers. Those who lend money, upon goods, to necessitous 
  people, at interest. 
       7. Stock Brokers. Those employed to buy and sell shares of stocks in 
  corporations and companies. Vide Story on Ag. Sec. 28 to 32; T. L. h. t.; 
  Maly. Lex Mer. 143; 2 H. Bl. 555; 4 Burr, R. 2103; 4 Kent, Com. 622, note d, 
  3d ed.; Liv. on Ag. Index, h. t.; Chit. Com. L. Index, h. t.; and articles 
  Agency; Agent; Bought note; Factor; Sold note. 
  
  

















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