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nominal consideration


  as an issue of Agreement (read more...)

nominal consideration, defined:

consideration lacking sufficient legal value to justify a contract. The issue of nominal consideration may arise when a question of coercion or some other illegal activity hangs over a contractual relationship. Compare nominal consideration to mutuality of consideration.

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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