Consignment is a business arrangement in which goods are left in the possession of an authorized third party to sell. The owner of the goods (consignor) retains ownership until the goods are sold.
A jobber serves as a middleman in the sale of goods by buying products from wholesalers and reselling them to retailers. Unlike brokers or agents who sell on behalf of others, jobbers purchase goods themselves before resale.
A comprehensive set of laws governing various commercial transactions, including the sale of goods, banking transactions, secured transactions in personal property, and other matters. The UCC is designed to bring uniformity to the laws governing these areas across the states.
