Word:

Advances

ADVANCES, contracts. Said to take place when, a factor or agent pays to his principal, a sum of, money on the credit of goods belonging to the principal, which are placed, or are to be placed, in the possession of the factor or agent, in order to reimburse himself out of the proceeds of the sale. In such case the factor or agent has a lien to the amount of his claim. Cowp. R. 251; 2 Burr. R. 931; Liverm. on Ag. 38; Journ. of Law, 146.
     2. The agent or factor has a right not only to advances made to the owner of goods, but also for expenses and disbursements made in the course of his agency, out of his own moneys, on account of, or for the benefit of his principal; such as incidental charges for warehouse-room, duties, freight, general average, salvage, repairs, journeys, and all other acts done to preserve the property of the principal, and to enable the agent to accomplish the objects of the principal, are to be paid fully by the latter. Story on Bailm. 197; Story on Ag. Sec. 335.
     3. The advances, expenses and disbursements of the agent must, however, have been made in good faith, without any default on his part Liv. on Ag. 14-16; Smith on Merc. 56 Paley on Ag. by Lloyd, 109; 6 East, R. 392; 2 Bouv. list. n. 1340.
     4. When the advances and disbursements have been properly made, the agent is entitled not only to the return of the money so advanced, but to interest upon such advances and disbursements, whenever from the nature of the business, or the usage of trade, or the particular agreement of the parties, it may be fairly presumed to be stipulated for, or due to the agent. 7 Wend. R. 315; 3 Binn. R. 295; 3 Caines' R. 226; 1 H. Bl. 303; 3 Camp. R. 467 15 East, R. 223; 2 Bouv. Inst. n. 1341. This just rule coincides with the civil law on this subject. Dig. 17, 1, 12, 9; Poth. Pand. lib. 17, t. 1, n. 74.

Browse
Advanced Programmable Interrupt Controller
Advanced Research and Development Activity
Advanced Research Projects Agency
Advanced Research Projects Agency Network
Advanced Revelation
Advanced RISC Computing Specification
Advanced RISC Machine
Advanced RISC Machines Ltd.
Advanced SCSI Peripheral Interface
Advanced Software Environment
Advanced STatistical Analysis Program
Advanced Technology Attachment
Advanced Technology Attachment Interface with Extensions
Advanced WavEffect
Advancement
Advancer
-- Advances --
advancing
Advancing edge
Advancing surface
Advancive
Advantage
Advantage Gen
Advantage ground
Advantageable
advantaged
Advantageous
Advantageously
Advantageousness
advect
advection
advective
Advene
Index: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

About this site and copyright information - Online Dictionary Home