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Timestamp: 2019-04-22 10:44:06+00:00

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68. A promise is a sufficient consideration for a promise.
69. The promises must be concurrent.
70. The promise may be contingent or conditional, except that - MUTUALITY - Mutuality of engagement is necessary, and, if the condition or contingency produces want of mutuality, the consideration is insufficient. Both parties must be bound or neither is bound.
54 Thomas v. South Haven & E. R. Co., 138 Mich. 50, 100 N. W. 1009. See "Contracts," Dec. Dig. (Key-No.) § 78; Cent. Dig. §§ S5J,-S56.
55Higgina v. Hill, 56 Law T. R. ON. S.) 426; Strangborough and Warner's Case, 4 Leon, 3; Gower v. Capper, Cro. Eliz. 543; Nichols v. Raynbred, Hob.
The promises, to constitute a consideration for each other, must be concurrent, or become obligatory at the same time; otherwise each will be without consideration at the time it is made, and both will therefore be nuda pacta.59 As explained in treating of offer and acceptance, some time must necessarily elapse between an offer and its acceptance, and in some cases a considerable time may elapse. The offer, however, is considered as continuing during the time allowed for acceptance; and when it is accepted by the giving of a promise both promises become obligatory at the same time, or are concurrent.
88; Missisquoi Bank v. Sabin, 48 Vt 239; Buckingham v. Ludlum, 40 N. J. Eq. 422, 2 Atl. 265; Phillips v. Preston, 5 How. 278, 12 L. Ed. 152; Funk v. Hough, 29 111. 145; Coleman v. Eyre, 45 N. Y. 38; Briggs v. Tillotson, 8 Johns. (N. Y.) 304; Baker v. Railroad Co., 91 Mo. 152, 3 S. W. 486; Porter v. Rose, 12 Johns. (N. Y.) 209, 7 Am. Dec. 306; Cramer v. Redman, 10 Wyo. 328, 68 Pac 1003. Promise to attend a person's funeral in return for promise by the latter to pay money. Earle v; Augell, 157 Mass. 294, 32 N. E. 164. See "Contracts," Dec. Dig. (Key-No.) § 56; Cent. Dig. §§ 344-353.
56 Dendy v. Russell, 74 Pac. 248, 67 Kan. 721. See "Contracts," Dec. Dig. (Key-No.) § 57; Cent. Dig. §§ 344, 345.
57 Harrison v. Cage, 5 Mod. 411; Holt v. Ward Clemencieux, 2 Strange. 937. See "Breath of Marriage Promise," Dec. Dig. (Key-No.) § 5; Cent. Dig. § 2.
58 Seward v. Mitchell, 1 Cold. (Tenn.) 87; Howe v. O'Mally, 5 N. C. 287, 3 Am. Dec. 693. It would be otherwise if there were no promise by the grantor. Smith v. Ware, 13 Johns. (N. Y.) 259. See "Contracts," Dec. Dig. (Key-No.) §§ 56-58; Cent. Dig. §§ 344-353.

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