factor
- A factor is a cause or reason that contributes to a result.
-
A factor is also an
agent
hired to sell
property
on behalf of its
owner
.
- The factor is given control and possession of the property from the start of the sale period until either the time of sale or the end of the agency relationship.
- Someone who buys accounts receivable in exchange for a lump sum of money.
[Last reviewed in November of 2022 by the Wex Definitions Team ]
Wex