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nominal consideration |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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