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One who is employed to sell merchandise consigned to him, and who has it in his possession and control, and is remunerated by a commission. A factor is different form a “broker” in that he is entrusted with the possession, management, and control of the goods while the broker acts as an intermediary without control or possession of the goods. A factor may buy and sell in his own name, as well as in that of the principal, while a broker cannot.

Mutual insurance companies specializing in industrial risks and loss prevention.

Reinsurance placed on an individual case basis.

A type of reinsurance whereby the reinsurer has the option of accepting the tendered part of the original insurer’s risk.

Price at which property would change hands between a willing buyer and willing seller, if neither were under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts. Synonymous with actual cash value, actual value, market value, fair cash market value, fair cash value, market value, reasonable market value, trust cash value, value.

A rent which is reasonable.

A rent which is reasonable.

Present market value. When market value cannot be established, expert testimony may be relied on. In such cases, it is essential to consider intrinsic value, selling value.

Present market value. When market value cannot be established, expert testimony may be relied on. In such cases, it is essential to consider intrinsic value, selling value, and earning power of the property to arrive at a fair valuation.

Not true. Has two distinct and well-recognized meanings: (1) intentionally or knowingly or negligently untrue; (2) untrue by mistake or accident, or honestly after the exercise of reasonable care.