Everlite Manufacturing Co. v. Grand Valley MacHine & Tool Co.

The following issues are presented on this appeal:(1) Was additional consideration required for the modification of the initial executory contract:(2) Was Mr. Likes clothed with apparent authority by which he could bind the plaintiff corporation;(3) Was the payment of $5,000, under the instant circumstances, sufficient ratification of the modification; and(4) Was the payment of $5,000 an acceptance by plaintiff corporation itself under the objective rule of contracts?

Consideration Unnecessary for the Modification of an Executory Contract.

The defendant correctly contends that the trial court…