nominal consideration
Consideration that is so insignificant as to bear no relationship to the value of what is being exchanged (e.g., $10 for a piece of real estate).
? Such consideration can be valid, since courts do not ordinarily examine the adequacy of consideration (although they do often inquire into such issues as fraud and duress).
¡ª Also termed peppercorn. [Cases: Contracts 53¨C54. C.J.S. Contracts ¡ì¡ì 87, 131¨C132.]
How do Chinese legal professionals usually express the term nominal consideration?
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