After McBee and Nance began dating, McBee had financial difficulties, and Nance gave her various cash loans.

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After McBee and Nance began dating, McBee had financial difficulties, and Nance gave her various cash loans. McBee signed a promissory note for $15,000, secured by a deed of trust on her house. After she failed to make payments, Nance foreclosed on the house. McBee then sued, arguing the consideration was inadequate; that it should be the same as the amount of the note. Is this correct? Explain.

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Law for Business

ISBN: 978-1259722325

13th edition

Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards

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