2006-10-10 04:53:38 · 3 answers · asked by Anonymous in Society & Culture ➔ Royalty
One peppercorn? It looks like it means one whole grain of black pepper.
I know spices used to be worth a lot, but this does seem strange
2006-10-10 09:03:52 · answer #1 · answered by Svartalf 6 · 0⤊ 0⤋
That is the amount of "rent" or "payment" .... maybe it is payment in full if it is "lady day next"; or in many instances it is an annual "rent" of "one pepper corn" doe to be paid on each "Lady Day".
Would have to google to find out for sure just what is a "pepper corn" or, for certainty, even what is "Lady Day", though I think that is March 25th.
If it is an annual rent, and it hasn't been paid, then it is about 246 years in arrears. I have no idea how much the "compound interest" might be.
2006-10-10 11:58:39 · answer #2 · answered by kent chatham 5 · 0⤊ 0⤋
It means that consideration must be sufficient but need not be adequate. As if you have made a contract for a car for say $1 then you are bound by it regardless of it not being the value of the car.
This was established in Thomas v Thomas (1842) 2 QB 851
Although this precedent is a common law based system & therefore may not be applicable in all states of the USA. As you apparently have both civil and common law systems.
2006-10-12 01:32:38 · answer #3 · answered by Mike J 5 · 0⤊ 0⤋