Factor

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.