Question:
An agent who gives guarantee to his principal that the party will pay the sale price of goods is called --
An agent who gives guarantee to his principal that the party will pay the sale price of goods is called --
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Think of "Del credere" as "extra credit" or "extra credibility." The agent gets extra pay for taking on the extra risk of guaranteeing the payment.
Updated On: Sep 25, 2025
- Auctioneer
- Del credere agent
- Factor
- Broker
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The Correct Option is B
Solution and Explanation
A Del credere agent is a type of mercantile agent who, for an extra commission (called a del credere commission), guarantees the solvency of the third party and the performance of the contract. In the context of a sale, this means they guarantee that the buyer will pay for the goods. If the buyer fails to pay, the del credere agent is liable to pay the amount to the principal.
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