JAMB Commerce 2007 Objective — Question 32

Question 32 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2007 Objective paper, with the correct answer and a full explanation.

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

A. a jobber
B. a factorCorrect
C. a broker
D. an auctioneer

Explanation

A factor is a mercantile agent who transacts business (buying/selling) in his own name without necessarily disclosing his principal, while holding title to the goods.

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