Basic Uniform Commercial Code
- "Consignment" means a transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and:
- the merchant:
- with respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery;
- the goods are not consumer goods immediately before delivery; and
- the transaction does not create a security interest that secures an obligation.
Copyright, The American Law Institute