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WAEC Commerce 2001 Question 28

Question 28

Wholesale Trade

An agent who takes possession of goods and sells in his own name is known as

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

Answer: D (a factor)

Explanation

A factor holds the principal's goods and sells them in his own name.