Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

consignator

Read a random definition: simulated transaction

A quick definition of consignator:

A consignator is a person who can receive money from a debtor if the creditor refuses to accept it. This is called consignation. It means that the debtor can give the money to someone else who is authorized to accept it, and the debt will be considered paid. This is different from a tender, which is when the debtor offers to pay the creditor directly.

A more thorough explanation:

Definition: A consignator is a person who is authorized to accept delivery of money from a debtor if a creditor refuses to accept it. Consignation is the act of a debtor delivering money to an authorized third party after the creditor refuses to accept the payment. A valid consignation discharges the debtor.

For example, if a debtor owes money to a creditor and tries to pay the debt, but the creditor refuses to accept the payment, the debtor can give the money to a consignator who is authorized to accept the payment on behalf of the creditor. This is called consignation.

Another example is when a consignor sends goods to a consignee for sale. The consignee is authorized to sell the goods and pay the consignor a percentage of the sale price. In this case, the consignor is the person who sends the goods, and the consignee is the person who receives them.

These examples illustrate how a consignator can act as an intermediary between a debtor and a creditor, or between a consignor and a consignee, to facilitate the payment or sale of goods.

consignation | consiliarius

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
GodsPlanUltimately
14:59
There is still hope!
14:59
and NYU/CLS didnt come thru today
14:59
wave in one minute? jk but imagine
lil that would be cute yes also how tf am i out of messahes?!?!? (me after def sending over 15 messages) bruh i guess ill ttyguys later....also thank u god i like complainign about the cold,, i am v cold rn theres no hearing here,, chowie YES WAVE IN 1 MIN THEN IN 15 MIN
atwatodbit
15:00
has anyone who got into Penn today gotten login info or scholly information?
texaslawhopefully
15:00
thank you splitter and snow :)
lilypadfrog
15:00
@renard99: i was hoping you would say that
cumsock
15:00
Tex u dropped this 👑
GodsPlanUltimately
15:00
@cumsock: I second this statement
15:01
no emails
15:01
thirded
GodsPlanUltimately
15:03
Finding scholarships make me sad :c
15:04
who would win lsd hunger games
lilypadfrog
15:04
i still have cramps and no decisions
snow
15:04
bulb
15:05
what if i dropped a berk today eyes emoji just for funsies
JeremyFragrance
15:05
penn waitlist
15:05
berk today eyes emoji
JeremyFragrance
15:05
berk is my only hope now
JeremyFragrance
15:05
let's get it eggan
I yhink me and cumsuck would win also out of messages again
is anyone a thanksgiving applicant? have u heard anything from ANYwhere lol
GodsPlanUltimately
15:06
I applied a bit before Thanksgiving and hear back in December right before New Years
GodsPlanUltimately
15:06
And by that I mean literally on New Years
jackfrost11770
15:06
I would win I think like seriously and I'm not joking I think I would survived a zombie apocalypse. Not the last of us ones tho those mfers would kill me in an instant
GodsPlanUltimately
15:07
Bro if I'm in the 50th percentile why'd you give me money like someone under the 25th :C
GodsPlanUltimately
15:07
@jackfrost11770: In 6th grade I had intense fears of the zombie apocalypse because living in the sticks meant you saw no one on the way to school lol
lilypadfrog
15:08
sitting in my cubicle licking the candy coating off an advil
[] AromaticTroubledDormouse
15:09
so far i'm A at 3 schools, WL at 6, and R at 3. Waiting on 8. This cycle is maddening
15:10
tough times at wannabealawyer dot com
LSD+ is ad-free, with DMs, discounts, case briefs & more.