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.