COMMISSIONS

1 definition found

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

  COMMISSIONS, contracts, practice. An allowance of compensation to an agent, 
  factor, executor, trustee or other person who manages the affairs of others, 
  for his services in performing the same. 
       2. The right of agents, factors or other contractors to commissions, 
  may either be the subject of a special contract, or rest upon the quantum 
  meruit. 9 C. & P. 559; 38 E. C. L. R. 227; 3 Smith's R. 440; 7 C. & P. 584; 


  32 E. C. L. R. 641; Sugd. Vend. Index, tit. Auctioneer 
       3. This compensation is usually the allowance of a certain, percentage
  
  upon the actual amount or value of the business done. When there is a usage 
  of trade at the particular place, or in the particular business in which the 
  agent is engaged, the amount of commissions allowed to auctioneers, brokers 
  and factors, is regulated by such usage. 3 Chit. Com. Law, 221; Smith on 
  Mere. Law, 54; Story, Ag. Sec. 326; 3 Camp. R. 412; 4 Camp. R. 96; 2 Stark. 
  225, 294. 
       4. The commission of an agent is either ordinary or del credere. (q.v.)
  The latter is an increase of the ordinary commission, in consideration 
  of the responsibility which the agent undertakes, by making himself 
  answerable for the solvency of those with whom he contracts. Liverm. Agency, 
  3, et seq.; Paley, Agency, 88, et seq. 
       5. In Pennsylvania, the amount missions allowed to executors and 
  trustees is generally fixed at five per centum on the sum received and paid 
  out, but this is varied according to circumstances. 1 9 S. & R. 209, 223; 4 
  Whart. 98; 1 Serg. & Rawle, 241. In England, no commissions are allowed to 
  executors or trustees. 1 Vern. R. 316, n. and the cases there: cited. 4 Ves. 
  72, n.