Thrash v. Deason

These cases involve basic contract law issues relating to a promisee's oral release of debt that arose from the sale of stock in an automobile dealership. Plaintiffs, as promisees, sued on promissory notes executed by Defendant. The trial court, finding insufficient evidence of consideration to support the oral release, granted Plaintiffs' summary judgment motions. Defendant appeals, contending the trial court erred by not applying appropriate contract law principles. We reverse and remand.

In January 1977, Plaintiff W.A. Freeman incorporated his Ford dealership in Tallassee, Alabama, which…