Inadequate price

INADEQUATE PRICE. This term is applied to indicate the want of a sufficient consideration for a thing sold,or such a price as, under ordinary circumstances, would be considered insufficient.
     2. Inadequacy of price is frequently connected with fraud, gross misrepresentations, or an intentional concealment of the defects in the thing sold. In these cases it is clear the. vendor cannot compel the buyer to fulfill the contract. 1 Lev. 111; 1 Bro. P. C. 187; 6 John. R. 110; 3 Cranch, 270; 4 Dall. R. 250; 3 Atk. 283; 1 Bro. C. C. 440.
     3. In general, however, inadequacy of price is not sufficient ground to avoid a contract, particularly' when the property has been sold by auction. 7 Ves. jr. 30; 3 Bro. C. C. 228; 7 Ves. jr. 35, note. But if an uncertain consideration, as a life annuity, be given for an estate, and the contract be executory, equity, it seems, will enter into the adequacy of the consideration. 7 Bro. P. C. 184; 1 Bro. C. C. 156. Vide. 1 Yeates, R. 312; Sugd. Vend. 189 to 199; 1 B. & B. 165; 1 M'Cord's Ch. R. 383, 389, 390; 4 Desaus. R. 651. Vide Price.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
"Bow Street's proxy contest is a transparent effort to advance its self-interested proposal to acquire some of the Company's prime assets at a grossly inadequate price, to the detriment of all other Mack-Cali stockholders,"Michael J.
The Special Dividend also will further dilute your ownership in Rand...We are extremely disappointed that Rand's board of directors has chosen to move forward with such a transaction and we urge you to VOTE AGAINST all of the proposals to be voted upon at the Special Meeting because we believe the transaction is bad for shareholders for the following reasons: INADEQUATE PRICE: East's $3.00 per share acquisition price represents an approximately 41% discount to the Company's stated net asset value of $5.06 per share as of March 31, 2019.
So, growers are always hard-pressed to sell their crop at an inadequate price to settle accounts.
Except in cases specified by law, inadequate price or consideration shall not invalidate a contract, unless: (a) there has been fraud, mistake, or undue influence; or (b) the parties intended a donation or some other act or contract.
However, the broader market continues to include terrorism coverage with what Validus considers an inadequate price.
In addition to the inadequate price, Johansson also slammed the lack industrial logic behind Pfizer's move; the risks posed to shareholders by the controversial tax plans; and the threat to life science jobs in Britain, Sweden and the United States.
Yet, the ship is in good condition, said CEO of the CTN, Jamel Gamra and not to be sold at an inadequate price, especially since it is, according to many Tunisians, a precious heritage and a symbolic property of Tunisia.
The investigation focuses on alleged efforts by certain members of Synovis' board to sell the company to Baxter at an inadequate price through an unfair process which significantly undervalues the company.
On the left, unions and other groups said the bill gave too much power to insurance groups and provided inadequate price protections for consumers.
The only mandate for the nominees put forward by Astellas is to support its goal of "acquiring OSI at an inadequate price," OSI said in a statement.