Question

A _______ is a mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal. He is the apparent owner of the goods in his custody and can sell them in his own name and receive payment for the goods.

• A. Broker
• B. Factor
• C. Del Credere Agent
• D. Auctioneer

Answer 1

The correct option is B Factor

A factor is a person who is entrusted with the possession of goods, and who has the authority to buy, or sell or otherwise deal with the goods or merchandise, or to raise money on their security. A factor, usually, sells goods in his own name, he has a general lien on the goods.