This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1880 Excerpt: ...is upon an executed consideration that it is necessary to allege a request in terms.4 1 Victors v. Davies, 12 M. & W. 758, Cas. on Contr. 430. 2 1 Smith's Lead. Cas. (1st ed.) 70. - Leake, Contr. (2d ed.) 77. King v. Sears, 2 C. M. & R. 48, Cas. on Contr. 403, 405, per Parke, B. 98. As the fiction of a promise implied ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1880 Excerpt: ...is upon an executed consideration that it is necessary to allege a request in terms.4 1 Victors v. Davies, 12 M. & W. 758, Cas. on Contr. 430. 2 1 Smith's Lead. Cas. (1st ed.) 70. - Leake, Contr. (2d ed.) 77. King v. Sears, 2 C. M. & R. 48, Cas. on Contr. 403, 405, per Parke, B. 98. As the fiction of a promise implied by law from an executed consideration was invented merely to render the action of assumpsit a more extensive and available remedy, it follows that such promises can have no existence in places where the action of assumpsit has been abolished, and hence in such places the phrase "executed or past consideration" has ceased to have any legal meaning. DEBT. 99. The original and normal mode of creating a debt was by a loan of money. In that transaction, therefore, the true nature of a debt must be sought. The subject of a loan may be either a specific thing, as a horse, or a given quantity of a thing which consists in number, weight, or measure, as money, sugar, or wine. In the former case, it is of the essence of the transaction that the thing lent continue to belong to the lender; otherwise the transaction is not a loan. In the latter case, the thing lent may (and commonly does) cease to belong to the lender, and become the property of the borrower, such a loan commonly being an absolute transfer of title in the thing lent from the lender to the borrower. The reason why such a transfer of title takes place is obvious. The object of borrowing is to have the use of the thing borrowed; but the use of things which consist in number, weight, or measure commonly consumes them; and this use, of course, the borrower cannot have unless he owns the things used. When such things are lent, therefore, it is presumed to be the intention ...
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