Consignation definition

Consignation. The act of depositing, in court, the object of the obligation when refused by the creditor; failure to consign renders the obligation to pay subsistent. The Supreme Court relied on Articles 1554, 1560, 1185, 1452, and 1589 of the Spanish Civil Code as they articulated reciprocal obligations under lease contracts and the effects of fortuitous events on such contracts.

Related to Consignation

  • Person means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.