Consignment and Joint Ventur

Consignment:

  1. Nature of Relationship: The relationship between the consignor and consignee is that of principal and agents.
  2. Ownership and Risk of goods: Both these remain with the consignor.
  3. Account Sales: Is sent by the consignor to the consignee.
  4. Scope: Consignment is concerned only with the sale of movable goods.
  5. Profit/Loss: Profit and Losses are shared only by the consignor and not by the consignee.
  6. Method’s of Keeping Accounts: Thesis only one method of, keeping accounts.
  7. No of Persons : In a consignment, there are two persons consignor and consignee.

Joint Venture:

  1. Nature of Relationship: The relationship between co-ventures is that of partners.
  2. Ownership and Risk of goods: Both these remain with the co-ventures.
  3. Account Sales: Is not sent by one co-venture to another.
  4. Scope:  Joint venture may be undertaken for any type of legal business e.g., construction of roads, building etc. in addition to purchase and sale of ‘goods.
  5. Profit/Loss:  Profit & Losses are shared by the co-venturers in an agreed ratio.
  6. Method’s of Keeping Accounts: For methods Of keeping accounts.
  7. No of Persons : In Joint Venture, there may be two or more persons.

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