§ 36-408 — Consideration; how proved

Nebraska § 36-408

• Jurisdiction: Nebraska
• Ch. 36: Fraud and Voidable Transactions

Text

The consideration of any contract or agreement, required by the provisions of sections 36-103 to 36-106 and 36-202 to be in writing, need not be set forth in the contract or agreement or in the note or memorandum thereof, but may be proved by any other legal evidence.

Legislative History

Source: R.S.1866, c. 43, § 83, p. 296; R.S.1913, § 2649; C.S.1922, § 2559; C.S.1929, § 36-407; R.S.1943, § 36-408; Laws 1971, LB 15, § 1. Annotations: Burden resting upon grantee of proving consideration applies only to contracts and agreements. Sampson v. Sissel, 151 Neb. 521, 38 N.W.2d 341 (1949). Where no consideration is shown in written contract, parol evidence is admissible to prove consideration. Rhodes v. Lewis, 136 Neb. 870, 287 N.W. 662 (1939). Consideration is not presumed, and must be proved even in contracts required to be in writing. Miller v. Crosson, 131 Neb. 88, 267 N.W. 145 (1936). In absence of fraudulent intent, a person, whether solvent or insolvent, may make disposition of his property based on valid consideration as his judgment dictates. State Bank of Beaver Crossing v. Mackley, 121 Neb. 28, 236 N.W. 165 (1931). Memorandum need not state consideration or terms and conditions of payment. Ruzicka v. Hotovy, 72 Neb. 589, 101 N.W. 328 (1904). Consideration may be proved by parol. Barton v. Patrick, 20 Neb. 654, 31 N.W. 370 (1886).