Commerce JAMB

An agent employed to sell goods delivered to him by the principal is referred to as a?

A. special agent
B. del credere agent
C. factor
D. universal agent

Correct Answer:

Option C – factor

Explanation

A factor is a type of trader / agent who receives and sells goods on commission (called factorage). A factor is a mercantile fiduciary transacting business in his own name and not disclosing his principal.

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