Lester v. Jewett
New York Supreme Court
Demurrer to declaration. The first count of the declaration alledgéd that the defendant, on the 6th of September, 1839, made his certain instrument in writing, of that date, subscribed bj him, and then and there delivered to the plaintiff, by which the defendant, for value received, agreed, at the expiration of. one year from the date of the instrument, to purchase of the plaintiff for the sum of $8000, thirty shares of the capital stock of the Southern Life Insurance and…
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Demurrer to declaration. The first count of the declaration alledgéd that the defendant, on the 6th of September, 1839, made his certain instrument in writing, of that date, subscribed bj him, and then and there delivered to the plaintiff, by which the defendant, for value received, agreed, at the expiration of. one year from the date of the instrument, to purchase of the plaintiff for the sum of $8000, thirty shares of the capital stock of the Southern Life Insurance and Trust Company. The plaintiff then alledged that the time for performance had elapsed; a readiness by him to sell and…
1Opinion of the Court
By the Court,
Johnson, J.
I think this undertaking as set out in the declaration, signed by the defendant only, is void for want of mutuality. The agreement on the part of the defendant to purchase, rests on the corresponding obligation of the plaintiff to sell, and there is no averment that the plaintiff ever agreed to- sell. Where the promise of one party is the consideration of the promise of the other, the promises must be concurrent and obligatory on both parties at the same time. If one party never bound himself to do that which forms the consideration for the promise of the other, so as…
2Cases cited6 opinions
- Parker v. ParmeleNew York Supreme Court · 1822
- Porter v. RoseNew York Supreme Court · 1815
- Tucker v. WoodsNew York Supreme Court · 1815
- Livingston v. RogersNew York Supreme Court · 1804
- Williams v. HealeyNew York Supreme Court · 1846
1 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Wilkinson v. HeavenrichMichigan Supreme Court · 1886
- Troy & Boston Railroad v. TibbitsNew York Supreme Court · 1854
- Robinson Consolidated Min. Co. v. JohnsonSupreme Court of Colorado · 1889
- Robinson v. CheneyNebraska Supreme Court · 1885
- Corbitt & Macleay v. Salem Gaslight Co.Oregon Supreme Court · 1877
5 more not listed; retrieve them via the Exa API.