Valuable consideration includes monetary payment methods, determining when transactions qualify as a sale under sales tax laws. The concept of valuable consideration is monetary and ejusdem generis with cash and deferred payment; it extends the statutory notion of price to ... Summary
Valuable consideration includes monetary payment methods, determining when transactions qualify as a sale under sales tax laws.
The concept of valuable consideration is monetary and ejusdem generis with cash and deferred payment; it extends the statutory notion of price to encompass cash, cheque, bank draft, promissory note, cards, direct debits, credit notes and electronic/banking transfers by which the seller obtains money, thereby bringing such monetary transmissions within the statutory conception of a sale for sales tax purposes.
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