Simple English definitions for legal terms
Read a random definition: collective membership mark
A consignee is the person who receives goods from someone else to sell. The person who sends the goods is called the consignor. The consignee takes care of the goods and sells them, but the consignor still owns them until they are sold. After the sale, the consignee pays the consignor some of the money they made. Consignment can also mean when someone else is trusted to store goods, and the person who trusts them is the consignor, while the person who accepts the trust is the consignee.
A consignee is a person or entity that receives goods from a consignor for the purpose of selling them. The consignee takes care of the goods and sells them on behalf of the consignor. The consignor retains ownership of the goods until they are sold, and the consignee pays the consignor a portion of the sale proceeds.
These examples illustrate how a consignee is responsible for the care and sale of goods that belong to someone else. The consignor retains ownership until the goods are sold, and the consignee pays the consignor a portion of the sale proceeds. This arrangement allows for the consignor to distribute their goods without having to manage the sales process themselves.