Trustees of Amherst Academy v. Cowls
Massachusetts Supreme Judicial Court
Assumpsit on the following promissory note. “ July 14th, 1819. For value received, I, the subscriber, of Am herst, &c. promise to pay to the trustees of Amherst academy or their order, on or before the 23d of May, 1820, one Hundred dollars, with annual interest from and after the 23d of May, 1819, being the amount of my subscription to the charitable fund established m Amherst for the classical education of indigent pious young men, and in pursuance of my covenants and…
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Assumpsit on the following promissory note. “ July 14th, 1819. For value received, I, the subscriber, of Am herst, &c. promise to pay to the trustees of Amherst academy or their order, on or before the 23d of May, 1820, one Hundred dollars, with annual interest from and after the 23d of May, 1819, being the amount of my subscription to the charitable fund established m Amherst for the classical education of indigent pious young men, and in pursuance of my covenants and engagements as expressed in the constitution of said fund by me subscribed, and dated the 23d of May, 1818. Jonathan Cowls.”…
1Opinion of the Court
The opinion of the Court was read at a subsequent term, as drawn up by
Parker C. J.
The first objection to the verdict is, that no sufficient legal consideration for the note declared on was proved. As a consideration is expressly admitted in the note itself, the defendant, to avoid payment, must prove that, contrary to his admission, no value or consideration was in fact received. It seems that an actual benefit to the promisor, or an actual loss or disadvantage to the promisee, will be a sufficient consideration to uphold a promise deliberately made. Whether the consideration received is…
2Cases cited5 opinions
- Trustees of Farmington Academy v. AllenMassachusetts Supreme Judicial Court · 1817
- Trustees of Phillips Limerick Academy v. DavisMassachusetts Supreme Judicial Court · 1814
- Boutell v. CowdinMassachusetts Supreme Judicial Court · 1812
- Bowers v. HurdMassachusetts Supreme Judicial Court · 1813
- Goodwin v. CunninghamMassachusetts Supreme Judicial Court · 1815
3Cited by5 opinions
- Nebraska Wesleyan University v. Estate of GriswoldNebraska Supreme Court · 1925
- Presbyterian Board of Foreign Missions v. SmithSupreme Court of Pennsylvania · 1904
- I & I Holding Corp. v. GainsburgAppellate Division of the Supreme Court of the State of New York · 1937
- In Re Morton Shoe Co., Inc.United States Bankruptcy Court, D. Massachusetts · 1984
- In Re Millivision, Inc.United States Bankruptcy Court, D. Massachusetts · 2005