Allegheny College v. National Chautauqua County Bank
Court of Appeals of New York
159 N.E. 173 (N.Y. 1927)
Relevant factsFree
Johnston promised Allegheny College (plaintiff) $5,000 from her estate to establish a scholarship fund in her name, gave $1,000 upfront toward that purpose, then revoked the remaining promise before her death; the College accepted the $1,000, which obligated it to establish and maintain the named fund, and sued Johnston's estate (defendant) for the remaining $4,000 after her death.
IssueFree
Whether a partial donation given in exchange for the establishment of a named scholarship fund can constitute valid consideration for the donor's promise to pay the remainder.