Also known as: brocarii · broker
Written by attorneys · grounded in primary & secondary sources — see below
An intermediary who facilitates transactions between buyers and sellers by matching parties and arranging exchanges of goods or property.
Tammy regularly buys and resells limited-edition sneakers through her Instagram account. She negotiates a large written purchase from Valley Outlet for 400 pairs. Tammy functions as the intermediary connecting the manufacturer outlet with end buyers in the transaction.
A homeowner lists property with a broker who locates a buyer ready to purchase on the stated terms. The seller later refuses to close in bad faith. The broker claims the commission earned by producing the ready buyer.
A buyer and seller reach an oral agreement for goods priced over 500 dollars. Their authorized broker signs a written record confirming the quantity. The signed record satisfies enforceability against the party who authorized the broker.
Select any source to read its text and confirm it supports the definition.
A utility company retains a broker to arrange promotional placements for energy services. The broker matches the utility with media outlets. The arrangement facilitates commercial speech between the utility and potential customers.
A corporation's broker arranges a securities transaction on behalf of the client. The broker receives confidential instructions during the deal. The client later asserts privilege over communications involving the broker as intermediary.
A property owner uses a broker to market and sell a single-family home. The broker handles listings and negotiations with prospective purchasers. The transaction proceeds through the broker as the connecting party between seller and buyer.
The term identifies the intermediary role that the UCC definition of merchant expressly contemplates when skill is attributed through an agent or broker. A party employing a brocarius can therefore satisfy merchant status even without personal expertise in the goods.
The broker earns the commission upon producing a buyer ready, willing, and able to purchase on the seller's terms. Bad-faith refusal by the seller to complete the sale does not defeat the broker's right to payment.
A record signed by the party's authorized broker satisfies the writing requirement against that party. The quantity stated in the record limits enforceability even if other terms are omitted or misstated.
…might run afoul of § 10 (b).[^maj-7] The SEC took an important step in the development of § 10 (b) when it held that a broker-dealer and his firm violated that section by selling securities on the basis of undisclosed information obtained from a director of the issuer corporation who was also a registered…