Advances


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Related to Advances: Cash 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.

References in classic literature ?
Humble words and increased preparations are signs that the enemy is about to advance.
You command only my advance guard, and have no right to arrange an armistice without my order.
But only for a moment they hesitated, and then with one accord they again took up their fantastic advance upon their prey; but even then a sudden crashing in the jungle behind them brought them once more to a halt, and as they turned to look in the direction of this new noise there broke upon their startled visions a sight that may well have frozen the blood of braver men than the Wagambi.
Leaping from the tangled vegetation of the jungle's rim came a huge panther, with blazing eyes and bared fangs, and in his wake a score of mighty, shaggy apes lumbering rapidly toward them, half erect upon their short, bowed legs, and with their long arms reaching to the ground, where their horny knuckles bore the weight of their ponderous bodies as they lurched from side to side in their grotesque advance.
Nor did the mighty beast even pause in his steady advance along the ledge.
This little group had in its advance dragged inward, so to speak, the circumference of the now almost complete circle of people, and a number of dim black figures followed it at discreet distances.
A member of the staff advanced toward the troops, and calling the name of a soldier commanded him to advance.
Even then Achmet Zek did not advance, fearful as he was of some such treachery as he himself might have been guilty of under like circumstances; nor were his suspicions groundless, for the Belgian, no sooner had he passed out of the range of the Arab's vision, halted behind the bole of a tree, where he still commanded an unobstructed view of his dead horse and the pouch, and raising his rifle covered the spot where the other's body must appear when he came forward to seize the treasure.
But there was another who had seen the pouch and recognized it, who did advance with Achmet Zek, hovering above him, as silent and as sure as death itself, and as the Arab, finding a little spot less overgrown with bushes than he had yet encountered, prepared to gloat his eyes upon the contents of the pouch, Tarzan paused directly above him, intent upon the same object.
Feeling that it was too late to retreat, he profited by the confusion which prevailed among them, while Weucha was explaining his character, to advance, until he was again face to face with the redoubtable Mahtoree.
In the mean time the friends of the old man continued to advance.
When he saw that all were ready, Mahtoree gave the signal to advance.

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