Consideration of £1, or even a peppercorn, could be sufficient consideration for the sale of a house?

Question

Quizplus · Accepted Answer

The concept of consideration refers to something of value that each party to a contract gives to the other. It does not need to be monetary, and can even be symbolic, such as a peppercorn. As long as both parties agree to the consideration and it holds some value, it is sufficient to make the contract legally enforceable. Therefore, a consideration of £1 or a peppercorn could be sufficient for the sale of a house.

Consideration of £1, or Even a Peppercorn, Could Be Sufficient