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Simple English definitions for legal terms
del credere
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A quick definition of del credere:
Del credere is an Italian term that means "of belief or trust." It refers to agents who sell goods and become responsible for making sure the person they sell them to can pay for them. These agents get paid more than usual for taking on this responsibility.
A more thorough explanation:
Term: del credereDefinition: Del credere refers to a type of agent who is responsible for ensuring that the person they sell goods to is able to pay for them. These agents are paid more than usual because they take on this extra responsibility. For example, if a del credere agent sells goods to a person who later cannot pay for them, the agent will have to cover the cost of the goods themselves. This type of agent is often used in international trade where there may be a higher risk of non-payment.