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WAEC Commerce 1997 Question 83

Question 83

Wholesale Trade

An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as

  1. A.del credere-agent
  2. B.general agent
  3. C.broker
  4. D.factor
  5. E.special agent
Show the answer and explanation

Answer: D (factor)

Explanation

A factor holds the goods and sells in his own name; a del credere agent would also guarantee payment.