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The World Law Dictionary Project

English may be the common language of the world, but the Common Law is not the common law of the world

That’s why, in a unique project, TransLegal has teamed up with leading law schools from around the world to create an online multilingual law dictionary linking the world’s legal languages to a single English law dictionary.

e.g. principle, consideration, jurisdiction
# a b c d e f g h i j k l m n o p q r s t u v w x y z

valuable consideration noun

something of value that is passed from one party (the promisee) to another (the promisor) as payment for what is promised
In consideration of $1.00 and other good and valuable consideration received, the receipt of which is hereby acknowledged....

In common law countries, a contract is not binding unless supported by consideration or made in a deed. It can be seen as something that buys the promise of another, and generally refers to some form of payment. Consideration doesn’t usually need to be equal value to the promise being made, and the term peppercorn is used as a metaphor for a very small payment, a nominal consideration, used to satisfy the requirements for the creation of a legal contract. The founder of the UK restaurant chain Pizza Express took his first premises at a peppercorn rent in 1965. He imported an oven and sold slices of pizza wrapped and napkins. Pizza Express now has 490 branches around the UK and Ireland.

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jurisdiction consideration principal

Phrase Bank

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