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RULE AS TO TRANSFERS WITHOUT CONSIDERATION OR FOR NOMINAL CONSIDERATION

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barrister

barrister
Reclusion Perpetua

1. What the law says - The law makes it unlawful for any person, firm, or corporation, as owner of any stock of goods, wares, merchandise, provisions, or materials, in bulk, to transfer title to the same without consideration or for a nominal consideration only.
2. Effect - This will make the seller criminally liable, and the sale would be void for lack of
consideration

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