one-dollar contract en · NOUN
Meanings
- A legally binding agreement in which one party agrees to provide goods, services, or property to another for the nominal price of exactly one dollar; it is primarily used to fulfill the legal requirement of consideration while allowing the actual transfer to function as a gift or nominal transaction.
Forms
| Spelling | Features | Labels | Source |
|---|---|---|---|
| one-dollar contracts | Number=Plur | lexicographic |