Distinguish between factor and broker. – InterviewSolution

InterviewSolution

1.

Distinguish between factor and broker.

Answer»

Factor	Broker
1. He sells the goods in his own name.	1. He simply conducts negotiation and the actual sale is made in the name of his principal.
2. He is appointed to sell all the goods.	2. He is appointed to buy and sell a particular commodity.
3. He is given the possession of the goods.	3. He is not given the possession of the goods.
4. He himself is liable in respect of the contract of sale.	4. He performs in the name of his principal and as such the principal is liable in all respects of the transactions.

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