FACTOR

One whose business is to receive and sell goods for a commission, being entrusted with the possession of the goods to be sold, and usually selling in his own name. A factor differs from a “broker” in that he is entrusted with the possession, management, and control of the goods, (which gives him a special property in them,) while a broker acts as a mere intermediary without control or possession of the property; and further, a factor is authorized to buy and sell in his own name, as well as in that of the principal, which a broker is not.


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