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peppercorn rent
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peppercorn rent - i know what it is - but where does the phrase originate from as it doesnt seem to bear relation to the term
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For more on marking an answer as the "Best Answer", please visit our FAQ.And as we all understand here, the point really is just that there must be SOME consideration for a contreact to be valid.
Although here http://www.odpm.gov.uk/stellent/groups/odpm_housing/documents/page/odpm_house_027094-03.hcsp is a suggestion that peppercorn rent means rent FREE. Now I'm totally confused. And look at the website - should be a reliable source! Someone please clarify. :-)
One of the earliest references to "a peppercorn rent" from 1616 - mentions a new lease for one hundred years and reads: "...and shall yearly pay a peppercorn, a nut, a bunch of may or some such trifle."
It's obviously just by chance, therefore, that we speak of a 'peppercorn rent' rather than a 'may rent' or a 'nut rent'...all being equally 'trifling'.
It's obviously just by chance, therefore, that we speak of a 'peppercorn rent' rather than a 'may rent' or a 'nut rent'...all being equally 'trifling'.