Opinion ID: 877539
Heading Depth: 1
Heading Rank: 4

Heading: lack of consideration and lack of mutuality of obligation

Text: The seller argues that valid consideration and mutuality of obligation are essential to a contract, that the District Court's findings and conclusions fail to set forth these elements, that the buyer has suffered no legal detriment in the nature of consideration for the reason that his later contract for resale of the calves to an eastern feeder has not been enforced by the feeder. The seller fails to recognize that mutual promises are valid consideration. The buyer promised to pay the seller a certain amount in return for the seller's promise to deliver the calves on a certain date in a certain condition. The buyer delivered a $2,000 check as downpayment on his promise. Mutual promises alone are enough to constitute valid consideration. Section 28-2-801, MCA; see 17 C.J.S. Contracts, §§ 97, 98. In addition, the buyer gave the check as downpayment, notwithstanding the seller's later return of that check. These facts are undisputed, and constitute sufficient basis for the District Court's conclusions.