Factors' Acts

A name given to certain English statutes, of which 40 & 41 Vict. c. 39, is the latest, validating pledges by factors to bona fide pledgees.

A name given to legislative enactments in England and the United States designed to mitigate the hardships of the common-law rule governing dealings with factors, and especially with respect to pledges made by them of the goods of the principal. The object of the English legislation known under this general designation is the protection of persons dealing with those having possession of goods or documents representing the title thereto. The first acts were 4 Geo. IV. c. 84 and 6 Geo. IV. c. 94, and these were confined to persons entrusted with documents of title, not with the goods themselves. This defect was remedied by 5 & 6 Viet c. 39, of which the Ontario act is merely a copy; R. S. Ont. c. 121. The subject was again dealt with in 40 & 41 Viet. c. 39, under which many of the decisions under the former acts were practically set aside. As to the provisions of the English acts and decisions thereunder, see 5 Can. L. T. 145. In the United States the rule of the common law that a factor cannot pledge the property of his principal has been largely altered by statute in many of the states, founded generally it is said upon the statutes of 6 Geo. IV. c. 94; 3 Wait, Act. & Def. 300. See, as to legislation in this country, 68 Am. Dec. 165, note. See also Factor.

Th name given to several English statutes (6 Gen. IV. c. 94; 5 & 6 Viet c. 39; 40 & 41 Viet, c. 39) by which a factor is enabled to make a valid pledge of the goods, or of any part thereof, to one who believes him to be the bona fide owner of the goods.
2. The term ls used in some of the states to denote the person who is elsewhere calied "garnishee" or "trustee." See Factorizing Process.
3. In Scotch law, a person appointed to transact business or manage affairs for another, but more particularly an estate-agent or one intrusted with the management of a landed estate, who finds tenants, makes leases, collects the rents, etc.

Defined under Factor in Black's Law Dictionary.

The name given to several English statutes (6 Geo. IV. c. 94; 5 & 6 Vict. c. 39; 40 & 41 Vict. c. 39) by which a factor is enabled to make a valid pledge of the goods, or of any part thereof, to one who believes him to be the bona fide owner of the goods.