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terminology issue concerning 'amounts'

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S

streiteben

Guest
I reside in Wisconsin. This is under the court of appeals issue.

Contract states rent is $0.00/ZERO.
It is argued that the amount of rent ($0.00) is not an amount of rent.

Can the counter argument be that $0.00 is an amount? Is there a financial (even understood law of accounting practice) that $0.00 is an amount - or a defined amount?

The attorney is also arguing that $0.00 is not an amount of rent, although I can agrue that per lease the stated amount $0.00 was set down as consideration for consideration pre-delivered to the signing of contract - so can not be translated to be actually 'free of charge' even though the amount is stated as $0.00. (The creator of the contract, obviously felt that considerations previously delivered by the other party were adequate to consider rents pre-paying any monetary amounts placed on rent).

Again, is there a law, or even common financial accounting law which defines '0' as a valid defining amount?
 


ALawyer

Senior Member
IZERO is an "amount" but my sense is that the issue is "Is the amount "consideration"? and I do not know the laws of your state in terms of showing by other "extrinsic" evidence that there was consideration.
 
S

streiteben

Guest
If I must I will attach some deeds of sale in which the transaction was for $0.00 to complete the sale. I know where a few are resting the a county vault. (were my hobby comes into play - research)!

But I will ride on the lease..." In consideration of the mutual covenants contained herein and other valuable consideration received, and with the intent to be legally bound, Owner and Tenant agree as follows:

Also that in court the Owner admitted to 'mailing the lease down to me in another state', and also mentioned that the trailer was not yet put together by mid June - from which one can infer that he had more presence of fore - thought in deeming the lease amount comparable value for the considerations receieved. (past tense).

Also that the judge stated that people do it all the time for one dollar and good and other consideration and we don't go behind the contract to see whether we approve or think it's enough...

Also, I did find some statutes which states clearly "..no less than $0.00" and "...shall be $0.00" so the state does recognize $0.00 as a given amount.

(scratch my head) does anyone elses state and federal tax tables list $0.00?
 

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