12. Mercantile agents under the Factors Act 1889.

A mercantile agent is one 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 goods1. An agent may be a mercantile agent although he has no general occupation as an agent or has only one customer2, or although his general occupation is that of an independent dealer in the commodity entrusted to him3, provided that he acts in the transaction in question in his capacity as mercantile agent4; but he must