Section 843.- A commission agent, who has been ordered to sell or buy a property which has an exchange quotation, may himself be the buyer or seller, unless he is expressly forbidden by the contract. In such a case, the price to be paid is determined by the quotation of such property on the exchange at the time when the commission agent gives notice of his being the buyer or seller.

On receiving such notice the principal is deemed to have accepted the transaction, unless he refuses it at once.

A commission agent may even in such case charge a remuneration.

 

Section 844.- Between the principal and the commission agent, a transaction concluded by the latter shall have the same effect as if it had been concluded directly in the name of the principal.

 

TITLE XVI

BROKERAGE

 

Section 845.- A person, who agrees to pay a remuneration to a broker for indicating the opportunity for the conclusion of a contract, or for procuring a contract, is liable to pay the remuneration only if the contract is concluded in consequence of the indication or of the procurement by the broker. If the contract is concluded subject to a condition precedent, the broker’s remuneration may not be claimed until the condition is fulfilled.

The broker is entitled to be reimbursed for expenses incurred only if this has been agreed upon. This is applied even if a contract is not concluded.

 

Section 846.- A broker’s remuneration is deemed to have been impliedly agreed upon, if the business entrusted to the broker is, under the circumstances, only to be expected for remuneration.

If the amount of the remuneration is not fixed, the usual remuneration is deemed to have been agreed upon.

 

Section 847.- A broker is not entitled to remuneration or to reimbursement of his expenses if, contrary to his engagement, he has acted also for the third party or has been promised by such third party a remuneration which is not consistent with the broker acting in good faith.

 

Section 848.- A broker is not personally liable for the performance of the contracts entered into through his mediation, unless he has not communicated the name of a party to the other party.

 

Section 849.- A broker is presumed to have no authority to receive on behalf of the parties the payments or other performances due under the contract.