A(n)__________ is a delivery of possession of personal property to an agent for sale by the agent.
A)sale on approval
B)consignment
C)sale or return
D)None of the above.

Question

Quizplus · Accepted Answer

Consignment is a delivery of possession of personal property to an agent (or consignee) for sale by the agent. The consignor (or owner of the property) retains ownership until the consignee sells the goods, at which point the consignee remits the proceeds to the consignor, minus any agreed-upon commission or fees. Sale on approval and sale or return are different methods of selling goods, but they do not involve the delivery of possession to an agent for sale on behalf of the owner.

A(n)__________ Is a Delivery of Possession of Personal Property to an Agent