Brokers


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BROKERS, commerce. Those who are engaged for others, in the negotiation of contracts, relative to property, with the custody of which they have no concern. Paley on Agency, 13; see Com. Dig. Merchant, C.
     2. A broker is, for some purposes, treated as the agent of both parties; but in the first place, he is deemed the agent only of the person by whom he is originally employed; and does not become the agent of the other until the bargain or contract has been definitely settled, as to the terms, between the principals. Paley on Ag. by Lloyd, 171, note p; 1 Y. &, J. 387.
     3. There are several kinds of brokers, as, Exchange Brokers, such as negotiate in all matters of exchange with foreign countries.
     4. Ship Brokers. Those who transact business between the owners of vessels, and the merchants who send cargoes.
     5. Insurance Brokers. Those who manage the concerns both of the insurer and the insured.
     6. Pawn Brokers. Those who lend money, upon goods, to necessitous people, at interest.
     7. Stock Brokers. Those employed to buy and sell shares of stocks in corporations and companies. Vide Story on Ag. Sec. 28 to 32; T. L. h. t.; Maly. Lex Mer. 143; 2 H. Bl. 555; 4 Burr, R. 2103; 4 Kent, Com. 622, note d, 3d ed.; Liv. on Ag. Index, h. t.; Chit. Com. L. Index, h. t.; and articles Agency; Agent; Bought note; Factor; Sold note.

References in classic literature ?
"Here are the names of seven respectable brokers," Wingrave continued, passing a sheet of paper towards him.
The news of the dealing, however, had got about, and although derision was the chief sentiment amongst the brokers, the price steadily mounted.
The brokers, however, now understood, or thought they understood, the situation.
The machine sitting at that desk was no longer a man; it was a busy New York broker, moved by buzzing wheels and uncoiling springs.
He who has been denied the spectacle of a busy Manhattan broker during a rush of business is handicapped for the profession of anthropology.
On the Exchange there were hurricanes and landslides and snowstorms and glaciers and volcanoes, and those elemental disturbances were reproduced in miniature in the broker's offices.
"Yes, she could sing that!" said he, and nodded to the portrait, which he had bought at the broker's, and the old man's eyes shone so bright!
Something came here, and something came there; the portrait of her who had been found at the broker's came to the broker's again; and there it hung, for no one knew her more--no one cared about the old picture.
The fact is, Copperfield, I was unable to repurchase them at the time of their seizure; in the first place, because the broker, having an idea that I wanted them, ran the price up to an extravagant extent; and, in the second place, because I - hadn't any money.
I never shall forget him peeping round the corner of the street in Tottenham Court Road, while Peggotty was bargaining for the precious articles; or his agitation when she came slowly towards us after vainly offering a price, and was hailed by the relenting broker, and went back again.
"He's on the Stock Exchange, and he's a typical broker. I think he'd bore you to death."
Comparing the humped herds of whales with the humped herds of buffalo, which, not forty years ago, overspread by tens of thousands the prairies of Illinois and Missouri, and shook their iron manes and scowled with their thunder-clotted brows upon the sites of populous river-capitals, where now the polite broker sells you land at a dollar an inch; in such a comparison an irresistible argument would seem furnished, to show that the hunted whale cannot now escape speedy extinction.