A nominal amount of money, such as one dollar, is sufficient consideration to form a valid contract. this is true even if the other party's consideration is much more valuable.

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Business

Jamie Wood

20 January, 15:45

A nominal amount of money, such as one dollar, is sufficient consideration to form a valid contract. this is true even if the other party's consideration is much more valuable.

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Dangelo · Answer 1

The answer is "true".

We can define a nominal amount of money as a little sum which is considerably less than something is extremely worth or we can say that the a nominal amount of money is utilized about something that is formally depicted especially when it isn't generally valid.