1. An agent or cause that contributes to a particular result ( punishment was a factor in the court’s decision).
2. An agent who is employed to sell property for the principal and who possesses or controls the property; a person who receives and sells goods for a commission (a factor was employed to sell goods for the company). • A factor differs from a broker because the factor possesses or controls the property.
— Also termed commission merchant; del credere bailiff. Cf. BROKER. [Cases: Factors
1. C.J.S. Agriculture §§ 163, 165, 178.]
“A factor by the rules of common law and of mercantile usage is an agent to whom goods are consigned for the purpose of sale, and he has possession of the goods, power to sell them in his own name, and a general discretion as to their sale. He may sell them on the usual terms of credit, may receive the price, and give a good discharge to the buyer.” William R. Anson, Principles of the Law of Contract 523 (Arthur L. Corbin ed., 3d Am. ed. 1919).
3. One who buys accounts receivable at a discount (the company sold its receivables to a factor at only 5% of their stated value).
4. A garnishee (the factor held $400 of the debtor’s property when the writ of garnishment was served). [Cases: Garnishment 13–24.]
5. A person in charge of managing property, esp. real property.
judicial factor. Scots law. An administrator or factor specially appointed by the Court of Session to manage an estate.
