Consignment Agreement
/kənˈsɪgnmənt əˈɡriːmənt/
Definitions
- (n.) A contract whereby goods are delivered to an agent (consignee) to sell on behalf of the owner (consignor), who retains ownership until sale.
The parties entered into a consignment agreement to sell the artwork through the gallery.
Forms
- consignment agreements
Related terms
See also
Commentary
Typically used to clarify ownership and risk until goods are sold; must specify duties, payment terms, and duration clearly to avoid disputes.
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.