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consideration
(redirected from Nominal consideration)

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia 0.01 sec.
consideration, in law: see contract contract, in law, a promise, enforceable by law, to perform or to refrain from performing some specified act. In a general sense, all civil obligations fall under tort or contract law.
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consideration
Law the promise, object, etc., given by one party to persuade another to enter into a contract

consideration
In a building contract, the compensation that shall be paid by one party to another party in return for products and/or services rendered.


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The Serious Fraud Office, acting for the South African tax investigators, told the court: "In the execution of those fraudulent activities, it was alleged that he had transferred, or arranged to be transferred, his shares in various South African-registered companies into the name of Agnes King, his mother, for no consideration or for nominal consideration.
Under the proposed transaction, all Sunshine shares will be transferred to Rex "for a nominal consideration.
In a grim statement issued yesterday, the firm said: "The terms currently under discussion include a nominal consideration and cash contributions from MFI and the purchaser.
 
 
 
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