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nominal consideration


definition of nominal consideration:

a benefit lacking sufficient legal value to justify a contract. The issue of nominal consideration may arise when a question of coercion or other illegal activity hangs over a contractual relationship. Compare NOMINAL CONSIDERATION to MUTUALITY OF CONSIDERATION, the requirement that each party receive something of value before a binding contract can exist.

nominal consideration, as it might be used:

In return for paying his law school tuition, he promised his grandmother the nominal consideration of paying her a monthly visit.
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