Q&As

Is a contract enforceable if the nominal consideration of £1 is never paid?

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Published by a ³ÉÈËÓ°Òô Commercial expert
Published on: 07 January 2019
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The placement of clauses providing for nominal consideration is used in some contracts to fulfil the requirements of consideration. Nominal consideration is the payment of a small amount that is still sufficient for legal purposes but 'nominal' in that it would not be adequate in any commercial sense. A sum of one pound sterling is commonly indicated as the nominal

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United Kingdom

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