Essay about Works Cited

Submitted By atripathi
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Pages: 3
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Hamer v. Sidway
124 NY 538
Facts William E. Story had made an agreement with his nephew, William E. Story, 2d. The agreement was that if William E. Story, 2d refrained from drinking liquor, using tobacco, swearing, and playing cards or billiards for money until he turned twenty-one, then William E. Story would pay William E. Story, 2d five thousand dollars. William E. Story, 2d agreed and fulfilled his part of the agreement. When William E. Story, 2d turned twenty-one, William E. Story wrote him another letter that said that he would not give him the five thousand dollars until he felt that William E. Story, 2d was capable of handling such a large amount of money, and will not carelessly waste it. He wrote that he would give William E.Story, 2d the money with interest when he deemed right. William E. Story, 2d consented on the terms of the letter. On the first day of March, 1877 with the consent and knowledge of his uncle, William E. Story, 2d sold, transferred and assigned all his right, title, and interest including, the five thousand dollars to his wife, Libbie H.Story. She sued the executor of William E. Story’s will.
History The court originally ruled in Libbie’s favor. After the court of appeals agreed, Sidway appealed.
Issues Was the agreement formed with valid consideration?
Court’s Holdings The judge ruled in favor of the defendant, the executor of the will. The plaintiff, Libbie H. Story appealed. After the appeal, the judge ruled in favor of the plaintiff, Libbie H. Story after finding that the agreement did indeed have legal consideration and therefore, needed to be upheld.
Court’s Reasoning The Court of Appeals of New York sided in favor of the plaintiff, Libbie H. Story because they concluded that the agreement between William H. Story and his nephew, William H. Story, 2b did indeed have valid consideration. The definition of consideration as per The Exchequer Chamber, in 1875 is: ‘A valuable consideration in the sense of the law may consist either in some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loos or responsibility given, suffered or undertaken by the other.’ Courts ‘will not ask whether the thing that forms the consideration does in fact benefit the promise or a third party, or is of any substantial value to anyone. It is enough that something is
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