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JAMB Commerce 2013 Question 39

Question 39

Wholesale Trade

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

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

Answer: C (factor.)

Explanation

A factor is given possession of the principal's goods and sells them in his own name for a commission.