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Schnell v. Nell - Rule Consideration is having each party...

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Schnell v. Nell 17 Ind. 29 (1861) Fact: Operative Facts: There was a agreement written out between a 3 people and a wife of a husband. The agreement stated that she would give them $200 each, in her will. But because she lived in a community property estate, when she died, everything that belonged to her transferred to her husband. However, she did not even have any money to transfer. The 3 parties sued to make the husband pay them, stating they had a contract, which had mutual assent and consideration of: 1) A promise to pay 1 cent. 2) The love and affection he bore his deceased wife, and the fact that she had done her part, in the acquisition of property. 3) The fact that she had expressed her desire, in the form of an inoperative will, that the person named therein should have the sums of money specified. Issue: Whether there was actually enough consideration for there to be a valid contract
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Unformatted text preview: Rule: Consideration is, having each party give up a legal right or limit, or restrict, or forbid a legal right or property. Nominal consideration does not count as consideration. Rational: The 3 considerations that was purposed by the defendant did not amount to a consideration to bind the agreement as a contract. 1 cent is a nominal amount of money, with a specific value. Unless the value could be undetermined, such as an artifact penny, then it is not even considered consideration, that would make it binding. The love and affection could be a consideration ONLY if there was an agreement between the wife and the husband, for the husband to pay it out. The will was unenforceable, so that itself would not be considered a consideration. Holding: Nominal, and non-binding consideration is not considered consideration. Synthesis: Dissent/Concurrences:...
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