To be a legal contract in England (and probably anywhere whose laws are based on English commmon law) there has to be an exchange or consideration of a nominal

To be a legal contract in England (and probably anywhere whose laws are based on English commmon law) there has to be an exchange or consideration of a nominal amount between parties. It’s the same concept as why peppercorn rents are paid https://en.m.wikipedia.org/wiki/Consideration#Nominal_consideration https://en.m.wikipedia.org/wiki/Consideration#Nominal_consid... There’s a collection of once mighty companies you could buy for the price of a burger: https://www.bbc.co.uk/news/business-44250900.amp https://www.bbc.co.uk/news/business-44250900.amp