Thursday, September 3, 2020

Chapter 5. Commercial Brokers

 Chapter 5. Commercial Brokers

Art. 56. - Definition.

1.    A commercial broker is a person or business organisation who, independently, professionally and for gain, brings parties together for the purpose of their entering into an agreement such as a contract of sale, lease, insurance or carriage.

2.    A commercial broker is a trader, regardless of the parties he brings together and of the nature and object of the contract for the completion of which he acts as an intermediary.

 

Art. 57. - Notice to parties.

1.    Unless customary or otherwise agreed, a commercial broker shall, where the parties have agreed to enter into a contract, inform both parties of the terms of the proposed contract.

2.    Unless customary or otherwise agreed, the proposed contract shall not become effective unless it is confirmed by both parties.

 

Art. 58. - Liability of broker.

    A commercial broker shall be liable for any damage he causes to either     party.

 

Art. 59. - Remuneration.

1.    A commercial broker shall receive remuneration when the contract for the completion of which he acted as an intermediary is entered into, whether such contract is performed or not.

2.    Unless customary or otherwise agreed, the remuneration shall be paid only by the party having required the services of the broker.

3.    The remuneration shall be fixed in the agreement or, where not fixed, by custom. The court may reduce the agreed remuneration where it appears excessive and disproportionate to the services rendered by the broker.

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