A factor is an agent, who, in the pursuit of an independent calling, is employed to buy or sell property in his own name, and is entrusted by his principal with the possession or control of the property, or authorized to receive payment therefor from the purchaser.

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Source: CivC 1877, §§ 1168, 1387; CL 1887, §§ 3791, 4010; RCivC 1903, §§ 1487, 1706; RC 1919, § 1288; SDC 1939, § 3.0601.

See Cal Civ Code, § 2026.