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4) Towne ordered a shipment of coffee from Brazil. The coffee was due to arrive shortly in New York and he expected to sell it

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4) Towne ordered a shipment of coffee from Brazil. The coffee was due to arrive shortly in New York and he expected to sell it for a profit. He entered into an agreement with Neely whereby they mutually promised to share equally the profits and the losses realized in the venture. Towne paid $12,000 for the coffee, but was unable to sell it for more than $6,000. Neely refused to abide by the agreement and Towne sued him to recover $3000. Defense: No consideration. Judgment is for whom

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