West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1906-04-05

promise made to one in considera.
ton OF his forbearing TO collect a
debt or to enforce payment is made
on good consideration, provided
the forbearance be for definite or
reasonable time. A forbearance
not to prosecute a demand which is
found not to exist in law or in fac,
is no consideration.
If a creditor agrees to give up
part OF his debt in consideration OF
the debtors giving him new or
additional security, his promise
will have good consideration and
be valid.
Then, too, in order for the con-
sideration to be legal, it must not
be something in the past. Thus,
If one does work for me gratuitously
and l afterwards voluntarily promise
to pay him for il, am not bound
in law to keep the promise. the
consideration having been some
thing in the past. So il 1 have
bought horse and not at the time
required warranty, and / after
wards go to the person from whom
/ bought 1t and ask for a warranty,
then given, unless something is
paid or promised to be paid on 1t,
is not valid in the law.
II l promise to repay to strangers
what they may pay out in the future
in taking care of my sick son who
is Of full age, the promise is sup
ported by valid consideration and
is legally binding. II, however,
strangers take care of my sick son
who is Of full age and I afterwards
promise to reimburse them, my
promise is without consideration,
as it is based upon past acts. 1
may be morally bound to do so,
but / am not legally so bound.
1t has been held that where the
act is done at the request of another
person under such circumstances
that the law will imply a promise
to pay what the service is worth, a
subsequent promise to pay will be
binding, the theory being that the
parties have reduced to a certainty
what they have purposely left un-
determined.
AS an exception to the rule that
promises cannot be based on a con-
consideration that is past we name
promises to pay debts barred by
the statute Of limitations or by dis
charge In bankruptcy. Courts so
holding have declared that the
moral Obligation to pay a debt
barred by statue or by discharge in
bankruptcy is sufficient to uphold
the promise.
Another rule is that the considera-
ton must be something possible. A
promise to do something that can
not in the nature of things be done
is not valid consideration to sup
port contract. Not only a thing
which is physically impossible, but
also thing which is legally impos-
sible cannot be made a considera-
ton. A mere stockholder In a
corporation cannot execute a legal
deed for the corporation. A
promise by a stockholder TO do so
would not be legal consideration
for a contract.
The question arises as to whether
the fact that one is morally obliged
to do thing will make his promise
to do it valid as consideration for
contract. We have seen that
where one is legally bound to do a
thing his promise to do it will not
make legal Consideration. The
rule is that a moral obligation will
not uphold a promise.
There is one other point we should
consider before passing from the
subject of consideration. Some
times a consideration is said to fail.
II promise TO pay a man a hun
dred dollars in consideration of his
agreeing to sell me his chestnut
colt, the consideration supporting
my promise to pay is his promise
to convey the title to the animal to
me. II before he does so the
horse dies, there is a total failure OF
consideration. There is absolutely
no way possible by which he may
fulfill his agreement.
Where a patent righ, was con.
siderstion of contract, and 1t was
found that the patent right was
void, the consideration was said tc
have failed. The mere fact that q
patent right that constituted The
consideration of a contract could
not be applied to any useful pur
pose and was Of no value did no
constitute failure OF consideration
a promise to pay money for notet