Newman & Snells State Bank v. Hunter
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| Newman & Snells State Bank v. Hunter | |
| Court | Supreme Court of Michigan |
|---|---|
| Citation | 243 Mich. 331 220 N.W. 665 (1928) |
| Date decided | 1928 |
Facts
The plaintiff owned a note that said the defendant’s deceased husband owed them an amount of money. The defendant said they would like to pay off her dead husband’s debt.
Issues
Whether an enforceable contract exists where the thing bargained for contains no value.
Holding
Judgment for the defendant.
Rules
When a stock is worthless but bargained for, there is not sufficient consideration and the contract is unenforceable.
