Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tom recover? 2 1 . Ade borrowed $ 1 0 , 0 0 0 from Weems. Ade signed a promissory note payable one year later,
Tom recover?
Ade borrowed $ from Weems. Ade signed a promissory note payable one year later, to the order of Weems, in the sum of $ The note Ade delivered to Weems at the time the loan was made. Three months later Weems, while negligently operating his automobile, struck and injured Ade, who instituted suit to recover damages, from Weems. While the suit was pending, Weems told Ade that if the latter dropped the suit, Weems would cancel the $ note and debt owed by Ade. Ade consented to this proposal and dropped the suit, and Weems signed a written statement to the effect that he thereby cancelled the $ note and debt owed to him by Ade. Shortly thereafter Weems died. His executor, finding the note among the papers of Weems, demanded that Ade pay the note, and upon Ade's refusal to pay, sued Ade to recover $ on the note. The executor contended that there was no consideration for this agreement to cancel the note. Should Weem's executor recover?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started