Law And Business .. 1
Law And Business .. 1
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It specifies three distinct considerations for his promise of $600: (i) A promise, on the part of the plaintiffs, to pay him one cent. (2) The love and affection he bore his deceased wife, and the fact that she had done her part, as his wife, in the acquisition of property. (3) The fact that she had expressed her desire, in the form of an inoperative will, that the persons named therein should have the sums of money specified.
The consideration of one cent will not support the promise of Schnel...l. It is true that as a general proposition, inadequacy of consideration will not vitiate an agreement. Baker v. Roberts, 14 Ind. 552. But this doctrine does not apply to a mere exchange of sums of money, of coin, whose value is exactly fixed, but to the exchange of something of, in itself indeterminate value, for money, or, perhaps for some other thing of indeterminate value. In this case, had the one cent mentioned been some particular one cent, a family piece, or ancient, remarkable coin, possessing an indeterminate value, extrin- sic from its simple money value, a different view might be taken.
What to read after Law And Business .. 1?
You can find similar books in the "Read Also" column, or choose other free books by Spencer, William Homer, 1888- to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It specifies three distinct considerations for his promise of $600: (i) A promise, on the part of the plaintiffs, to pay him one cent. (2) The love and affection he bore his deceased wife, and the fact that she had done her part, as his wife, in the acquisition of property. (3) The fact that she had expressed her desire, in the form of an inoperative will, that the persons named therein should have the sums of money specified.
The consideration of one cent will not support the promise of Schnel...l. It is true that as a general proposition, inadequacy of consideration will not vitiate an agreement. Baker v. Roberts, 14 Ind. 552. But this doctrine does not apply to a mere exchange of sums of money, of coin, whose value is exactly fixed, but to the exchange of something of, in itself indeterminate value, for money, or, perhaps for some other thing of indeterminate value. In this case, had the one cent mentioned been some particular one cent, a family piece, or ancient, remarkable coin, possessing an indeterminate value, extrin- sic from its simple money value, a different view might be taken.
What to read after Law And Business .. 1?
You can find similar books in the "Read Also" column, or choose other free books by Spencer, William Homer, 1888- to read onlineMoreLess
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