Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

consignment

1 The act of consigning goods for custody or sale. 2. A quantity of goods delivered by this act, esp. in a single shipment. 3. Under the UCC, a transaction in which a person delivers goods to a merchant for the purpose of sale, and (1) the merchant deals in goods of that kind under a name other than the name of the person making delivery, is not an auctioneer, and is not generally known by its creditor to be substantially engaged in selling others' goods, (2) with respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery, (3) the goods are not consumer goods immediately before delivery, and (4) the transaction does not create a security interest that secures an obligation. UCC § 9-102(a)(13).

consignment sale

A sale of an owner's property (such as clothing or furniture) by a third party entrusted to make the sale. See CONSIGNMENT.

reconsignment.

A change in the terms of a consignment while the goods are in transit. See CONSIGNMENT.