A control account is a natural management point for planning and control since it represents. the work assigned to one responsible organizational element on one project work. breakdown structure element.
Past consideration is no consideration. Consideration must be given at the time of the contract or some time after the contract was made. It's not generally possible for an act or forbearance to be good consideration if it took place prior to the contract. STUDY.
Nominal Consideration (Sham Consideration or Token Consideration) Applies to gifts. Nominal consideration for gifts is no consideration in contract law (e.g. $10 for $5 million dollar gift). Sham Consideration - When somebody is conveying a gift but disguising it as a sale (ie.1$ for 10 million dollars). â¢ EXCEPTION: If entering into an option contract, nominal consideration is valid.