Simple English definitions for legal terms
Read a random definition: procurator negotiorum
A consignor is someone who gives their things to someone else to sell. The person who gets the things to sell is called the consignee. The consignor still owns the things until they are sold. After they are sold, the consignee gives some of the money to the consignor. The consignor usually pays for the things to be shipped to the consignee. Consignment can also mean giving things to someone else to keep for you.
A consignor is a person who delivers goods to another person, called the consignee, for the purpose of selling them. The consignee takes responsibility for selling the goods, but the consignor still owns them until they are sold.
These examples illustrate how a consignor is someone who entrusts their goods to another person or company for a specific purpose, such as selling or storing them. The consignor retains ownership of the goods until they are sold or otherwise disposed of, and the consignee takes responsibility for them in the meantime.
consignment | Consolidated Omnibus Budget Reconciliation Act (COBRA)