nominal consideration


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Related to nominal consideration: Contractual agreement

nominal consideration

A token payment or promise given in exchange for something else of greater value. Courts will usually not “look behind the value of consideration,”and even a nominal consideration (such as $1) will support a contract and make it enforceable.It will also support a deed, so that it cannot be set aside.

References in periodicals archive ?
Consistent with worldwide regulations governing the foreign ownership of air carriers nationally, Gama MENA has divested a 51% equity interest in Gama Aviation FZE, its ME Air Division, to Felix for a nominal consideration.
The agreement for sale involved recapitalisation of PA, along with certain loans to PA by an associated company, for nominal consideration, before the sale of the company's shares in PA to MTO.
Coinstar received nominal consideration and expects to record a pre-tax loss in the range of $52 million to $57 million and realize a one-time tax benefit in the range of $82 million to $87 million on the sale of the business.
The sale, for a nominal consideration, would be in exchange for Greybull Capital taking on the whole of the business, including assets and relevant liabilities, and securing an appropriate funding package.
The agreement for sale involves recapitalisation of PA, along with certain loans to PA by an associated company, for nominal consideration, before the sale of the company's shares in PA to MTO.
Milliman USA, of Seattle, has acquired the assets and liabilities of Focus Solutions Inc for a nominal consideration.
The Treasury also received a warrant to purchase $500,000 of a second class of warrant preferred shares for nominal consideration.
The deal is subject to the usual regulatory approvals and the company is purchasing the stakes for a nominal consideration of Au10,000.
Among the contempt claims against the witness is that he was involved in assignment of about EUR98million worth of loans to a Belize entity for nominal consideration on or after July 20, 2011 and in back-dating those loans to April 2011.
Finance director Tim Curle said: 'We had an option to sell the engineering business, but only for a nominal consideration, but its trading performance has deteriorated in the last few weeks.
The Treasury will also receive a warrant to purchase $500,000 of a second class of warrant preferred shares for nominal consideration in lieu of a warrant to purchase shares of the Company common stock.
L) has signed a sale and purchase agreement regarding the acquisition of the recently decommissioned Thames Gas Pipeline in the Southern North Sea for a nominal consideration from Perenco UK Ltd.