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Legal Terms - Factor
A person who is authorized to possess goods (or documents of title that represent goods) for the purpose of sale. It is probable that a factor will be classified as a *mercantile agent under the Factors Act 1889 and possess the same powers as a mercantile agent. Any claims against the principal that arise out of the agency are covered by the lien that a factor has over the products entrusted to him.
A person who is authorized to possess goods (or documents of title that represent goods) for the purpose of sale. It is probable that a factor will be classified as a *mercantile agent under the Factors Act 1889 and possess the same powers as a mercantile agent. Any claims against the principal that arise out of the agency are covered by the lien that a factor has over the products entrusted to him.
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