GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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23:16 Apr 29, 2023 |
Spanish to English translations [PRO] Law/Patents - Law: Contract(s) / Stock Purchase Agreement | |||||||
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| Selected response from: Jennifer Levey Chile Local time: 08:25 | ||||||
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Summary of answers provided | ||||
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4 +3 | Equivalent Consideration |
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4 | quid pro quo equivalence between the types of consideration |
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Discussion entries: 4 | |
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equivalencia entre las contraprestaciones quid pro quo equivalence between the types of consideration Explanation: There seems to be some 'overthinking' of the expression, the tricky part or 'limb' of the question seeming to be the plural of contraprestación. In Angl-Am contract law, leaving aside the vexed issue of acceptance of part-payment of a debt, the consideration or quid pro quo merely needs (to) be 'sufficient' (has to exist e.g. a peppercorn rent/ $ 1 paid for a run-down house) rather than 'adequate' (a fair exhange). Example sentence(s):
Reference: http://eng.proz.com/personal-glossaries/entry/14614724-contr... Reference: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=3471850 |
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Equivalent Consideration Explanation: https://www.lawinsider.com/dictionary/equivalent-considerati... "Equivalent Consideration means consideration of substantially equivalent economic value as determined by the [parties] at the time of execution of the definitive agreement relating to the applicable [transaction] ... " The ST establishes that (contrary to Asker's suggestion about 'compensation') the parties agree that their respective considerations are equivalent (of equal value), and that, if it is later found that there was in fact a difference, they will waive their right to compensation and instead treat the difference as if it were a 'donation' to the other. |
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