Richards v. Levison
Opinion of the Court
“Now, remember, there is no obligation on my part to advance this money to you. I am giving this to you as a favor to you.”
This testimony is not contradicted. He also testified that he told plaintiff’s attorney only that the note was a moral obligation. Even though the defendant was a stockholder in the corporation and was interested in its profits, he was not bound to pay its debts. If he did promise to pay the debts, and the promisee gave up no rights in return for that promise, the promise was without consideration. The testimony of the plaintiff’s former attorney is not inconsistent with the testimony of the defendant, and is, under the circumstances, not sufficient to show consideration.
Judgment should be reversed, and a new trial ordered, with costs to appellant to abide the event. All concur.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.