What are the main features of consignment?

The following features of consignment are:

  • The goods consigned to agent remains the property of the principal so far as these are not sold by the agent. In other words, ownership of the goods consigned is not transferred to the agent.
  • The agent is to sell goods on account and risk of principal.
  • All expenses incurred by the agent on goods consigned to him are to be paid by the principal.
  • The agent is expected to take reasonable care of the goods consigned to him.
  • The agent is not liable to make the payment of the goods until these are sold.

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