The Law of Contracts, Volume 1Baker, Voorhis & Company, 1920 - Contracts |
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Other editions - View all
Common terms and phrases
acceptance action agent agreement assent assignment assumpsit Bank bargain benefit bilateral contract binding bound choses in action claim common law Conn court court of equity covenant creditor Davis debt decisions deed defendant detriment discharge effect enforced equity executor fact forbearance held infant infra intention Iowa joint debtor liability Lumber Mass ment Minn mortgage mutual N. J. Eq N. Y. App N. Y. Misc N. Y. Supp negotiable instrument obligation obligor offer offeree offeror Ohio St parol evidence rule party payment performance plaintiff principal promise to pay promisor quasi-contracts reason requested rule seal seems sideration simple contracts Smith statute Statute of Frauds sufficient consideration supra surety third person tion tract trust undisclosed principal unilateral valid consideration voidable
Popular passages
Page 847 - Every person negotiating an instrument by delivery or by a qualified indorsement, warrants — 1. That the instrument is genuine and in all respects what it purports to be; 2. That he has a good title to it; 3. That all prior" parties had capacity to contract; 4. That he has no knowledge of any fact which would impair the validity of the instrument or render it valueless.
Page 570 - Where the instrument contains or a person adds to his signature words indicating that he signs for or on behalf of a principal, or in a representative capacity, he is not liable on the instrument if he was duly authorized; but the mere addition of words describing him as an agent, or as filling a representative character, without disclosing his principal, does not exempt him from personal liability.
Page 209 - A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered, or undertaken by the other.
Page 139 - But every one has a right to select and determine with whom he will contract, and cannot have another person thrust upon him without his consent. In the familiar phrase of Lord Denman, '• you have the right to the benefit you anticipate from the character, credit, and substance of the party with whom you contract.
Page 793 - A check of itself does not operate as an assignment of any part of the funds to the credit of the drawer with the bank, and the bank is not liable to the holder, unless and until it accepts or certifies the check.
Page 597 - In respect of any act or transaction of his in carrying on the business connected with such property...
Page 891 - But whenever the main purpose and object of the promisor is, not to answer for another, but to subserve some pecuniary or business purpose of his own, involving cither a benefit to himself or damage to the other contracting party, his promise is not within the statute, although it may be in form a promise to pay the debt of another, and although the performance of it may incidentally have the effect of extinguishing that liability.
Page 859 - No action shall be brought whereby to charge any executor or administrator, upon any special promise, to answer damages out of his own estate ; or whereby to charge the defendant upon any special promise to answer for the debt, default, or miscarriage of another person...
Page 860 - ... except the buyer shall accept parv of the goods so sold, and actually receive the same, or give something in earnest to bind the bargain, or in part payment...
Page 326 - P. 249, and the conclusion there arrived at seems to be correct in general, "that an express promise can only revive a precedent good consideration, which might have been enforced at law through the medium of an implied promise, had it not been suspended by some positive rule of law; but can give no original cause of action, if the obligation, on which it is founded, never could have been enforced at law, though not barred by any legal maxim or statute provision.