You can't buy much for $1, except maybe a global company. Why PwC could be sold for less than the price of a stamp
Peppercorn transactions, which involve a minimal payment to fulfil the requirements of a legal contract, are not as unusual as they may seem.
- Peppercorn transactions, which involve a minimal payment to fulfil the requirements of a legal contract, are not as unusual as they may seem.
- They are used when companies seek to rid themselves of liabilities as well as opportunities.
- Read more: Self-interest versus public good: the untold damage the PwC scandal has done to the professions
You might wonder why the asking price was set at $1 and not $2, or $100. - It’s because the $1 is a nominal price, which is all that is needed to make the sale legally binding.