failure of consideration
Defined in 6 dictionaries — Case Law, Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910), Black's (1891)
Definitions from Case Law
From 50 U.S. 213 - Withers v. Greene · 1850Most cited · 43 citing opinions
where fraud has occurred in obtaining or in the performance of contracts, or where there has been a failure of consideration, total or partial, or a breach of warranty, fraudulent or otherwise, all or any of these facts may be relied on in defence by a party, when sued upon such contracts; and that he shall not be driven to assert them either for protection, or as a ground for compensation in a cross action.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
Failure of a party to a contract, whether by fault or necessity, to perform that which he has obligated himself to do. To constitute failure of consideration, there must be failure to perform that which was promised; subsequent depreciation of the thing promised (86 N. C. 498), though due to inherent defects (78 111. 578), not being a legal failure of consideration. It is a phase of want of consideration, the contract being invalid for absence of consideration after the consideration has failed. But in another sense, want of consideration implies that there never was a consideration, while failure of consideration implies the existence of mutual promises at the making of the contract, and the subsequent breach of one party. Failure of consideration differs from nonperformance or breach only as to the point of view; the same acts constituting a failure of consideration in respect to the effect to release the other party from his obligation, and a breach in respect to the effect to render the nonperforming party liable in damages.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
See
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
As applied to notes, contracts, conveyances, etc., this term does not mean a want of consideration, but implies that a consideration, originally existing and good, has since become worthless or has ceased to exist or been extinguished, partially or entirely. Shirk v. Neible, 156 Ind. 66, 59 N. E. 281, 83 Am. St Rep. 150; Crouch v. Davis, 23 Grat. (Va.) 75; Williamson v. Cline, 40 W. Va. 194, 20 S. B. 920
Defined under Failure in Black's Law Dictionary.
A Dictionary of Law
Henry Campbell Black · 1891
The want or failure of a consideration sufticient to support a note, contract, or conveyance. It may be either partial or entire.