commission merchant

commission merchant
A term which is synonymous with "factor." It means one who receives goods, chattels, or merchandise for sale, exchange, or other disposition, and who is to receive a compensation for his services, to be paid by the owner, or derived from the sale, etc., of the goods. One whose business is to receive and sell goods for a commission, being intrusted with the possession of the goods to be sold, and usually selling in his own name. Hughes v. Young, 17 Tenn.App. 24, 65 S.W.2d 858, 864.
See also factor
Broker distinguished.
A "factor" or "commission merchant" is one who has the actual or technical possession of goods or wares of another for sale, while a "merchandise broker" is one who negotiates the sale of merchandise without having it in his possession or control, being simply an agent with very limited powers. Hughes v. Young, 17 Tenn.App. 24, 65 S.W.2d 858, 864

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • Commission merchant — Commission Com*mis sion, n. [F., fr. L. commissio. See {Commit}.] 1. The act of committing, doing, or performing; the act of perpetrating. [1913 Webster] Every commission of sin introduces into the soul a certain degree of hardness. South. [1913… …   The Collaborative International Dictionary of English

  • commission merchant — n. a person who buys or sells goods for others on a commission basis * * * …   Universalium

  • commission merchant — n. a person who buys or sells goods for others on a commission basis …   English World dictionary

  • commission merchant — index broker Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • commission merchant — A term nearly, if not exactly, synonymous to factor, the term factor being more common in the language of the law, and the term commission merchant more familiar in the language of commerce. I. J. Cooper Rubber Co. v Johnson, 133 Tenn 562, 182 SW …   Ballentine's law dictionary

  • commission merchant — noun : factor 1a * * * commission agent or commission merchant noun A person who transacts business for another for a commission • • • Main Entry: ↑commission * * * commission merchant, a person who buys or sells goods for others who pay him a… …   Useful english dictionary

  • commission merchant — A term which is synonymous with factor. It means one who receives goods, chattels, or merchandise for sale, exchange, or other disposition, and who is to receive a compensation for his services, to be paid by the owner, or derived from the sale,… …   Black's law dictionary

  • commission merchant — n. one who sells for a commission …   English contemporary dictionary

  • commission merchant — noun Date: 1796 broker 1b …   New Collegiate Dictionary

  • Commission Merchant —    A term used in futures markets to describe a firm or individual that makes a trade on behalf of another member of an exchange or for a non member client, but who carries out the trade in their own name and becomes liable as principal.    ► See …   Financial and business terms

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