Margeson v. Artis

CADY, Justice.

In this appeal, we must decide whether a contract modification was supported by consideration. We conclude no consideration supported the modification under the record presented. We vacate the opinion of the court of appeals and reverse the summary judgment granted by the district court.

I. Background Facts and Proceedings.

John and Jennifer Margeson entered into a contract to sell a weight-loss franchise business called “Inches-A-Weigh” to Theresa Artis. 1 The parties memorialized their agreement in an “Asset Purchase Agreement” executed on October 1, 2004. The purchase price was…