Dictionary of Law
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consign :: legal definition


Consign - v. 1) to deliver goods to a merchant to sell on behalf of the party delivering the items, as distinguished from transferring to a retailer at a wholesale price for re-sale. Example: leaving one's auto at a dealer to sell and split the profit. 2) to deliver to a carrier to be taken to an agent of the sender. 3) when a debtor has belongings but no money to pay his/her creditors and deposits his/her goods with a trustee who will sell them to raise money to pay the owner's debts and creditors. This is done by agreement between a debtor and his/her creditors or by order of a bankruptcy judge.


Related Law Terms

account stated :: n. a statement between a creditor or the person to ... ending on the state. See also: debt
anticipatory breach :: n. when a party to a contract repudiates (reneges ... perform. See also: breach contract
assignment for benefit of creditors :: n. a method used for a debtor to work out a paymen ... ar basis to pay the debtor's bills.
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bankruptcy proceedings :: n. the bankruptcy procedure is: a) filing a petiti ... ankruptcy court claim in bankruptcy
bulk sales acts :: n. state laws (spelled out in the Uniform Commerci ... g without paying current creditors.
claim in bankruptcy :: n. the written claim filed by persons or businesse ... : bankruptcy bankruptcy proceedings
contributory negligence :: n. a doctrine of common law that if a person was i ... : comparative negligence negligence
creditor's claim :: n. a claim required to be filed in writing, in a p ... e also: claim in bankruptcy probate
execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution
failure of consideration :: n. not delivering goods or services when promised ... n. See also: consideration contract
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
franchise :: 1) n. a right granted by the government to a perso ... on property, income or profits tax.
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
injunction :: n. a writ (order) issued by a court ordering someo ... t. See also: injunctive relief writ
preference :: n. in bankruptcy, the payment of a debt to one cre ... nds or assets. See also: bankruptcy
satisfaction of judgment :: n. a document signed by a judgment creditor (the p ... ord. See also: abstract of judgment
specific performance :: n. the right of a party to a contract to demand th ... artwork. See also: contract prayer

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - C

C.I.F. :: n. the total of cost, insurance and freight charge ... aid on goods purchased and shipped.
calendar :: 1) n. the list of cases to be called for trial bef ... clerk of the court calendars cases.
calendar call :: n. the hearing at which a case is set for trial. ... g at which a case is set for trial.
call :: n. the demand by a corporation that a stockholder ... assessment on shares already owned.
calumny :: n. the intentional and generally vicious false acc ... 's reputation. See also: defamation
cancel :: v. to cross out, annul, destroy, void and/or resci ... g, so that it cannot be used again.
cancellation :: cancel ... cancel
caning :: n. a punishment for crimes employed in certain Asi ... last century in the United States.
canon law :: n. laws and regulations over ecclesiastical (churc ... nduct with no religious connection.
cap :: n. slang for maximum, as the most interest that ca ... "adjustable rate" promissory note.
capital :: 1) n. from Latin for caput, meaning "head," the ba ... count capital assets stock in trade
capital account :: n. the record which lists all basic assets of a bu ... or the alleged value of good will.
capital assets :: n. equipment, property, and funds owned by a busin ... . See also: capital capital account
capital expenditure :: n. payment by a business for basic assets such as ... y intended to improve productivity.
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
capital investment :: capital expenditure ... capital expenditure
capital offense :: n. any criminal charge which is punishable by the ... . See also: bail capital punishment
capital punishment :: n. execution (death) for a capital offense. The U. ... or death. See also: capital offense
capital stock :: n. the original amount paid by investors into a co ... price. See also: corporation stock
capitalization :: n. 1) the act of counting anticipated earnings and ... for conversion into capital assets.