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.

References in periodicals archive ?
Under the proposed transaction, all Sunshine shares will be transferred to Rex "for a nominal consideration." Rex MD Geoff Breust said the deal is in line with its "mission of connecting regional Australia" but cautioned that Sunshine is in a tenuous position and likely won't survive absent the proposed merger.
A logical solution to the objection from the EU to the sale at an apparent undervalue, would be for the Government to allow the Racing Trust to acquire the Tote for a nominal consideration and charge it an annual licence fee for the right to continue its monopoly.
'They have also commented that the property will be worth only a very nominal consideration.' That 'nominal consideration' is thought to be pounds 1.
The Group has sold its UK pizza business to Pizza Canadian Limited (a newly formed company established by members of the existing management team) for a nominal consideration. Greencore Pizza was involved in the manufacture of both topped pizza and pizza crusts, primarily for the retail multiple market.
National Express said the Connex operation, which it is buying for "a nominal consideration", would give it an "important entry" into London, which is dominated by rivals including Stagecoach, Sunderland-based Arriva and First Group.
Under the arrangement the assets, agreements and liabilities relating to the business had been transferred to the new company as of 1 January 2003 against nominal consideration, BioTie said.
3) the acquisition by TransAtlantic from the Protium Group, for nominal consideration, of five new oil and gas exploration projects which have recently been acquired by the Protium Group, including a 50% participation in a 1.0 million acre concession offshore Cameroon, West Africa, a 40% interest in a 0.8 million acre concession in Pakistan, a 20% interest in a 3.6 million acre concession in the Western Desert, Egypt, and two U.S.
iomart said in a statement that it acquired the whole of the issued share capital of NSL for a 'nominal consideration'.
The first of these, the Bogoso gold mine in Ghana, was sold for a nominal consideration to a consortium of lenders including the International Finance Corp.
The acquisition was made for a nominal consideration of GBP 2m (USD 2.62m) together with the grant of an option to acquire the remaining 20%.
If the Joint Venture fails to make a required payment of cash received as revenues, subject to certain conditions, Entrex will have the right to repurchase the previously contributed assets for nominal consideration. If the Joint Venture reaches $50,000,000 in revenues and $15,000,000 in EBITDA for any trailing 12 month period, Long Blockchain will have the right to acquire Entrex's equity interest in the Joint Venture.
Zoeller in exchange for nominal consideration and Mr.