consideration

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consideration,

in law: see contractcontract,
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

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

consideration

Law the promise, object, etc., given by one party to persuade another to enter into a contract
References in periodicals archive ?
The West Brom initially announced in May last year that it had agreed in principle "to sell Mortgage Force to the management for a nominal consideration while retaining a small minority interest".
In a separate announcement, the building society said it had agreed, in principle, "to sell Mortgage Force to the management for a nominal consideration whilst retaining a small minority interest".
According to the Heads of Agreement, both firms have agreed to enter into a share purchase agreement and a joint venture agreement in relation to the establishment of a joint venture through the sale of 51 percent of Baltic's wholly owned trading subsidiary Baltic Hydrocarbons Limited (BHL) to Exoy for nominal consideration.
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.
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.
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.
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.
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.
Furthermore, under the Option Agreement, again providing that the rental obligations have been fulfilled, Albuquerque Motor Company is entitled to acquire title to the remainder of the property for nominal consideration.