What is FACTOR?

1. A commercial agent, employed by a principal to sell merchandise consigned to him for that purpose, for and in behalf of the principal, but usually in his own name, being intrusted with the possession and control of the goods, and being remunerated by a commission, commonly called “factorage.” Howland v. Woodruff, 60 N.Y. 30; In re Rabenau (D. C.) 118 Fed. 474; Lawrence v. Stonington Bank, 6 Conn. 527;Graham v. Duckwall, 8 Bush (Ky.) 17.A factor is an agent who, in the pursuit of an independent calling, is employed by another to sell property for hiin, and is vested by the latter with the possession or control of the property, or authorized to receive payment therefor from the purchaser. Civ. Code Cal

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