When you give someone an item to sell and you agree to get paid only after the item has been sold, this is an example of a time when you sell the item on consignment.
- a consigning or being consigned
- something consigned; esp., a shipment of goods sent to a dealer for sale or safekeeping
- The act of consigning.
- Something consigned.
consignment - Investment & Finance Definition
An agreement by a retailer to sell merchandise owned by another person or corporation (the consignor). No payment is made to the consignor until the merchandise is actually sold. Unsold items are returned to the consignor.
consignment - Legal Definition