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An agent who takes title to goods and has authority to buy and sell on...

Commerce
JAMB 2015

An agent who takes title to goods and has authority to buy and sell on behalf of another is

  • A. A jobber
  • B. A broker
  • C. A factor
  • D. An auctioneer
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Correct Answer: Option C
Explanation

A factor is a type of trader who receives and sells goods on commission (called factorage). A factor is a mercantile fiduciary transacting business in his own name and not disclosing his principal.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now