Section 431.020

Title XXVIII CONTRACTS AND CONTRACTUAL RELATIONS

Chapter 431

Effective - 28 Aug 1939   

  431.020.  Instrument of writing to import consideration — due and payable as specified. — All instruments of writing made and signed by any person or his agent, whereby he shall promise to pay to any other, or his order, or unto bearer, any sum of money or property therein mentioned, shall import a consideration, and be due and payable as therein specified.

­­--------

(RSMo 1939 § 3345)

Prior revisions: 1929 § 2958; 1919 § 2160; 1909 § 2774

(1954) Where written contract on its face appears unilateral and unenforceable, this section does not apply to shift the burden of showing no consideration to defendant. Middleton v. Holecroft (A.), 270 S.W.2d 90.

(1955) Bond, given by purchaser of land to insure against forbidden use, which was executed by corporation in manner prescribed by statute, acknowledged and recorded held admissible in evidence and imported a consideration. Cook v. Tide Water Associated Oil Co. (A.), 281 S.W.2d 415.

(1961) Instrument worded "If at the time of my death you are still alive, I, Joseph Kaiser, I owe you $10,000 for value received" imported consideration and was a valid enforceable contract. Burrell v. Kaiser's Estate (A.), 344 S.W.2d 622.