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LSDefine

Simple English definitions for legal terms

peppercorn

Read a random definition: utlesse

A quick definition of peppercorn:

Peppercorn means something that is very small or insignificant. In legal terms, it refers to a nominal consideration, which is a small amount of money or something of little value that is given as part of a contract. Consideration is something that is exchanged between two parties in a contract, and it can be an act, a promise, or something of value. Peppercorn is often used to describe a small amount of money that is given as consideration in a contract, even though it is not equal in value to what is being exchanged.

A more thorough explanation:

Definition: Peppercorn refers to a small or insignificant thing or amount that is given as nominal consideration in a contract. It can be any act, forbearance, or promise that motivates a person to engage in a legal act. Consideration is necessary for an agreement to be enforceable.

Example: In a contract for the sale of a house, the buyer offers to pay the seller $1 as nominal consideration. This $1 is the peppercorn in the contract. Despite the small amount, the contract is upheld because it involves consideration.

Explanation: The example illustrates how peppercorn is used in a contract to provide nominal consideration. The buyer offers to pay $1, which is a small amount, but it is still considered consideration. The contract is upheld because it involves consideration, even if it is just a nominal amount.

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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