A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling for a commission proportionate to the value of the…

JAMB Commerce 2024 30 views
Source: JAMB · 2024

A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling for a commission proportionate to the value of the transaction is called a

  1. commissioned agent
  2. del-credere agent
  3. factor ✓
  4. speculator
Explanation

A factor is a wholesaler who sells goods on behalf of the owner. They earn a commission based on each sale they make.

A commissioned agent also earns commission but usually works in a specific market. Del-credere agents guarantee payment.

Factors handle possession of goods and can sell them in their own name for the owner.

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