broker

An agent employed to make bargains and contracts for a compensation. A dealer in securities issued by others. White v. Financial Guarantee Corporation, 13 Cal.App.2d 93, 56 P.2d 550, 553.

A middleman or negotiator between parties. A person dealing with another for sale of property. A person whose business it is to bring buyer and seller together. One who is engaged for others, on a commission, to negotiate contracts relative to property. North Carolina Real Estate Licensing Board v. Aikens, 31 N.C.App. 8, 228 S.E.2d 493, 496.

An agent of a buyer or a seller who buys or sells stocks, bonds, commodities, or services, usually on a commission basis. The term extends to almost every branch of business, to realty as well as personalty.

Ordinarily, the term is applied to one acting for others but is also applicable to one in business of negotiating purchases or sales for himself.

For distinction between "commission merchant" and "broker," see commission merchant.

For "factor" and "broker" as synonymous or distinguishable, see factor.

See also commercial broker

- commission broker

- customs broker

- exchange broker

- pawnbroker

- brokerage

@ broker-agent

One licensed to act both as broker and agent

@ broker-dealer

A securities brokerage firm, usually registered with the S.E.C. and with the state in which it does business, engaging in the business of buying and selling securities to or for customers.

@ institutional broker

Brokers who trade (buy and sell) securities for institutional clients-mutual funds, banks, pension funds, insurance companies.

@

- insurance broker

@ merchandise brokers

Buyers and sellers of goods and negotiators between buyer and seller, but without having the custody of the property.

@ money broker

A money-changer; a scrivener or jobber; one who lends or raises money to or for others.

@ note broker

Negotiators of the discount or sale of commercial paper.

@ real estate broker

Persons who procure the purchase or sale of land, acting as intermediary between vendor and purchaser, and who negotiate loans on real-estate security, manage and lease estates, etc. Latta v. Kilbourn, 150 U.S. 524, 14 S.Ct. 201, 37 L.Ed. 1169.

A broker employed in negotiating the sale, purchase, lease, or exchange of lands on a commission contingent on success. A person engaged in business to such an extent that it is his vocation or partial vocation.

See listing.

@ securities broker

Brokers employed to buy and sell for their principals stocks, bonds, government securities, etc. Any person engaged in the business of effecting transactions in securities for the account of others, but does not include a bank. Securities Exchange Act of 1934, No. 3.

A person engaged for all or part of his time in the business of buying and selling securities, who in the transaction concerned, acts for, or buys a security from or sells a security to a customer. U.C.C. No. 8-303.

A person who acts as an agent for a buyer or seller, or an intermediary between a buyer and seller, usually charging a commission.

A broker who specializes in shares, bonds, commodities or options must be registered with the exchange where the specific securities are traded. A broker should be distinguished from a securities dealer who, unlike the broker, is in the business of buying or selling for his own account.

See also broker-dealer

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