Hamer v. Sidway - party Rule Consideration A valuable...

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Hamer v. Sidway 124 N.Y. 538(1898) Fact: Procedural Facts: Story 2d won the $5,000 + interest in trial court, and the defendant’s appeal, stating there was no consideration in the contract. Operative Facts: Story Sr. was in a contract with Story 2d. stating that, if 2d did not have liquor, or use tobacco, swearing, playing cards, or billards for money until he was 21, then Sr. would give jr. 5k. After he turned 21, Sr. stated that he agreed to give him 5k because of the completed contract, however, he didn’t think 2d was ready for the money yet, so he kept it in the bank, and said that it’ll gather interest until he really needs it. Sr. died, and so 2d sued the inheritance to settle the debt. Inheritance denies there was a contract, claming lack of consideration, because there was no direct benefit to Story Sr. Issue: Whether there was consideration for a omission of an act, and there was no benefit for a
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Unformatted text preview: party Rule: Consideration: A valuable consideration in the sense of the law may consist either in:-Some right-Interest-Profit-Benefit accruing to one party-Forbearance-Detriment-Loss-Responsibility given-Suffered-undertaken by the other. Rational: Court states that, the benefits does not have to be directly towards the parties. As long as there was a promise for a promise/ performance, and it was completed, then contract exist w/ consideration. In this case, the Uncle had a bilateral contract stating that he would pay if the nephew refrained from drinking, smoking, and gambling through cards and billards. He completed his end for the bargain, and the uncle affirmed it. Consideration may consist of benefit OR detriment. Holding: There was adequate consideration. Synthesis: Dissent/Concurrences:...
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