3 ms·
Is this a typo?
by carterschonwald 4y ago
Is this a typo?
- wyldfire 4y agoLikely not. They get to assume all of their (SVB uk) liabilities. However, specifically excluded are SVB's assets/liabilities: > The assets and liabilities of the parent companies of SVB UK are excluded from the transaction.
- jimnotgym 4y agoIt is a legal term. A contract has to have 'consideration' (an exchange of value) to be legally binding in the UK. HSBC are taking this bank for free, but since you can't do that they say £1. An even funnier term comes out of free property leases. Due to some historical convention the consideration is sometimes still written as 'one peppercorn if demanded'!
- _yb2s 4y agoExercising peppercorn options is a taxable event.
- tsujamin 4y agowhen my colleagues and I bought the IP off of the company we were dissolving, one of them bought a 1kg container of peppercorns for each of us to draw our consideration from. The peppercorns are still taped to the folder of company documents in my filing cabinet
- zabzonk 4y agoyep, i am trying to extend the lease on a flat i own in london, and the contract my solicitor drew up cited the ground rent as one peppercorn. actual ground rent i am currently paying is 100 gbp p/a.
- petepete 4y agoThe lease for a piece of demised land which is now part of my garden says: > as aforesaid for a term of Nine hundred and ninety nine years from the date hereof subject nevertheless to the proviso for re-entry hereinafter contained YIELDING AND PAYING THEREFOR [sic] during the said term a yearly rent of one peppercorn (if demanded) to be paid on the First day of January every year Possibly the most impenetrable sentence I've ever read, and I had to look up the whole peppercorn thing. Nobody's ever requested anything so am yet to post any peppercorns.
- otherme123 4y agohttp://news.bbc.co.uk/2/hi/business/741701.stm http://news.bbc.co.uk/2/hi/business/741701.stm Not the first time it happens.