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Difference Between Joint Venture and Consignment

In a joint venture, parties called co-venturers share profits and losses as partners and agents for each other, and contribute capital to the venture. Their relationship ends when the venture is completed. In a consignment, the consignor is the owner and principal while the consignee acts as their agent without contributing capital, and their relationship continues until terminated by the parties. The co-venturers have equal rights as partners while the consignee only acts as an agent for the consignor.

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2K views1 page

Difference Between Joint Venture and Consignment

In a joint venture, parties called co-venturers share profits and losses as partners and agents for each other, and contribute capital to the venture. Their relationship ends when the venture is completed. In a consignment, the consignor is the owner and principal while the consignee acts as their agent without contributing capital, and their relationship continues until terminated by the parties. The co-venturers have equal rights as partners while the consignee only acts as an agent for the consignor.

Uploaded by

AbhiRishi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Difference Between Joint Venture and Consignment:

Parties:
In joint venture, parties to the agreement are known as co-venturers while in consignmentthey
are termed as consignor and consignee.
Compensation:
Co-venturers are the partners in the venture and share profits or losses of the venture. Where as
consignee is never a partner. Consignee gets his commission for acting as an agent for consignor.
Relation:
Each co-venturer is a partner as well as the agent of other co-venturers. Where as consignee is
the agent of his principle i.e., consignor.
Termination:
Relationship of co-venturers comes to an end when venture is completed. Where as relationship
of consignor and consignee continues until terminated by parties.
Investment:
Co-venturers, usually, contribute towards the capital of the venture (in the form of money or
materials) but consignee does not contribute towards the capital.
Rights:
Co-venturers enjoy equal rights as partners but consignee only acts as an agent.
Ownership:
Co-venturers are the owners of their venture but in consignment the consignor is the owner not
the consignee.

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