FREE BOOKS

Author's List




PREV.   NEXT  
|<   184   185   186   187   188   189   190   191   192   193   194   195   196   197   198   199   200   201   202   203   204   205   206   207   208  
209   210   211   212   213   214   215   216   217   218   219   220   221   222   223   224   225   226   227   228   229   230   231   232   233   >>   >|  
ing a consideration in all cases, but the reason is this: When a sealed contract is made, the law supposes or assumes that each party made it, clearly knowing its nature--made it carefully, slowly, and, consequently, that either a consideration had been or would be given. If, therefore, one of the parties should refuse to fulfil it the other could sue him in a court of law. The person who sought to have it carried out would not be obliged to show that he had given any consideration on his part for the undertaking, because the seal appended to his name would imply that a consideration had been given. A deed for a piece of land is a good illustration of a sealed instrument. The law assumes whenever such a deed is given that the seller received a consideration for his land. The money paid was a consideration received by the seller, and the land was the consideration received by the buyer. Each gives a consideration of some kind for the consideration received from the other; and this is true in all cases. V. THE ESSENTIALS OF A CONTRACT In our last paper we told our readers that there must be a _consideration in every contract_. Sometimes this is _illegal_, and when it is the effect is the same as would be the giving of _no consideration_. Suppose a robber having stolen money from a bank should afterward offer to return a certain portion if he is assured that he will not be arrested and compelled to change the style of his clothing and his place of residence for a season. He cannot endure the thought of missing a game of football; and as for striped clothes, though very comfortable, perhaps, he is sure they would not be becoming. Suppose this agreement to return a part should be put in writing, and after fulfilling it he should be sued by the bank for the remainder, and also prosecuted by the State for committing the theft. Very naturally he would present the writing in court to show that he had been discharged from the crime and also from the payment of any more money. But this writing would not clear him either from prosecution for the criminal offence or from liability to return the rest of the money. The bank would say that although he had returned a part, this was not a proper consideration for its agreement not to sue him; it had no right to make such an agreement, and consequently it could sue the robber for the remainder of the money just as though no agreement had ever been made. Another illustration ma
PREV.   NEXT  
|<   184   185   186   187   188   189   190   191   192   193   194   195   196   197   198   199   200   201   202   203   204   205   206   207   208  
209   210   211   212   213   214   215   216   217   218   219   220   221   222   223   224   225   226   227   228   229   230   231   232   233   >>   >|  



Top keywords:
consideration
 

received

 

agreement

 
return
 
writing
 
seller
 

Suppose

 

robber

 

illustration

 

remainder


assumes
 
contract
 

sealed

 

thought

 

endure

 

striped

 

clothes

 

season

 

football

 

missing


Another
 

assured

 

portion

 
clothing
 

comfortable

 
change
 
arrested
 

compelled

 

residence

 

criminal


prosecution

 

committing

 
offence
 
prosecuted
 

payment

 
discharged
 

present

 

naturally

 

liability

 

proper


returned

 

fulfilling

 
carried
 

sought

 
fulfil
 
person
 

obliged

 

appended

 
undertaking
 

refuse