Consignment
/kənˈsaɪnmənt/
Definitions
- (n.) The delivery of goods to an agent for the purpose of sale, where ownership remains with the sender until sold.
The retailer held the items on consignment until they were purchased by customers.
- (n.) A batch of goods sent together to a destination for sale or distribution.
The consignment of electronics arrived at the warehouse last week.
Forms
- consignments
See also
Commentary
In legal contexts, consignment agreements specify that title remains with the consignor until sale, which is key for risk and liability allocation.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.