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JAMB Commerce 2012 Question 42

Question 42

Wholesale Trade

A person who, in consideration for an extra commission, takes responsibility for goods sold on credit and in case of default is a

  1. A.commission agent
  2. B.del credere agent
  3. C.broker
  4. D.factor.
Show the answer and explanation

Answer: B (del credere agent)

Explanation

A del credere agent earns extra commission for guaranteeing payment by the buyers he sells to.