| 词汇 | FACTOR2 |
| 释义 | `1`FACTOR2 `2` "Legal Lexicon": factor's hands, undiscounted at his failure; or where goods have been taken in return for those sold; the principal is entitled to them, as forming no part of the divisible fund. When the price has been paid in money, coin, bank notes, etc., it remains the property of the principal, if kept distinct as his. When a bill received for goods, or placed with the factor, has been discounted, or when money coming into his hands has been paid away, the endorsee of the bill, or the person receiving the money, will be free from all claim at the instance of the principal. When the factor sinks the name of the principal entirely; as where he is employed to sell goods and receives a del credere commission for which he engages to guarantee the payment to the principal, it is not the practice to communicate the names of the purchasers to the principal except where the factor fails. Under these circumstances the principal is the creditor of the buyer and has a direct action against him for the price. But bona fide persons contracting with the factor in his own name are entitled to set off the factor's debt to them. Where the factor is entrusted with the money or property of his principal to buy stock, bills and the like and misapplies it, the produce will be the principal's if clearly distinguishable. When the factor purchases goods for the behalf of his principal, but on his own general current account without mention of the principal, the goods vest in the factor and the principal has only an obligation against the factor's estate. But when the factor, after purchasing the goods, writes to his principal that he has bought such a quantity of goods in consequence of his order, and that they are lying in his warehouse or elsewhere, the property would seem to be vested in the principal. It may therefore be laid down as a general rule that when; the property remitted by the principal, or acquired for him by his order; is found distinguishable in the hands of the factor; capable of being traced by a clear and connected chain of identity, no one link of it degenerating from a specific trust into a general debt; then the creditors of a factor who is bankrupt have no right to the specific property. Much discrimination is requisite in the application of this doctrine. A factor has no right to barter the goods of his principal, nor to pledge them for the purpose of raising money for himself or to secure a debt he may owe. But he may pledge them for advances made to his principal, or for the purpose of raising money for him, or in order to reimburse himself to the amount of his own lien. Another exception to the general rule that a factor cannot pledge the goods of his principal is that he may raise money by pledging the goods for the payment of duties or any other charge or purpose allowed or justified by the usages of trade. --b-- Chances are you'll find material related to this term in other areas of the Library, so look around. |
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