Factors Act 1889

Factors Act 1889 2020 REVISED EDITION This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021 An Act to amend and consolidate the Factors Acts. [12 November 1993] Preliminary Interpretation 1.—(1) For the purposes of this Act — “document of title” includes any bill of lading, dock warrant, warehouse-keeper’s certificate, and warrant or order for the delivery of goods, and any other document used in the ordinary course of business as proof of the possession or control of goods, or authorising or purporting to authorise, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented; “goods” includes wares and merchandise; “mercantile agent” means a mercantile agent having in the customary course of his business as such agent authority either to sell goods, or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security of goods; “person” includes any body of persons corporate or unincorporate; “pledge” includes any contract pledging, or giving a lien or security on, goods, whether in consideration of an original advance or of any further or continuing advance or of any pecuniary liability. (2) A person shall be deemed to be in possession of goods or of the documents of title to goods, where the goods or documents are in the person’s actual custody or are held by any other person subject to his control or for him or on his behalf.