☩ SOTERIAN GLOSSARY ☩

Living Language Lexicon of the Soteria Covenant

Peppercorn Consideration

A nominal or token consideration sufficient to support a contract under the common law rule that courts will not inquire into the adequacy of consideration, merely its existence.

Etymology: English compound, from the historical use of a single peppercorn as token payment · Category: Contract Law · Source: Thomas v. Thomas (1842) 2 QB 851
0 terms published 0 awaiting endorsement
Propose a New Term

Submit a term for the community. Two endorsements from other members will publish it.

Per page: