Slaton v. Fowler
Headnotes
Summary
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Opinion of the Court
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LüMPKIN, J.
Our decision in regard to some of the questions involved in this case will sufficiently appear from the headnotes. It is only necessary to add that at common law, as a general rule, a seal imported a consideration, and a contract under seal was not open to attack on the ground that it was without consideration. Whether this rule applies to a promissory note under seal so as to prevent a plea of want of consideration, or whether the seal only raises, a presumption of a consideration, which can be rebutted, has never been definitely decided in this State; but it has been held that failure of consideration could be pleaded to a note under seal. Albertson v. Holloway, 16 Ga. 377 . The reasoning in that case was criticised and the general subject discussed by Mr. Justice Cobb in Swell v. Hogan, 119 Ga. 167, 169-171 . It was declared in the opinion distinctly that no ruling was made as to whether want of consideration could be pleaded to a suit on a promissory note under seal; but it was said: “We rather prefer the view of the *957 Supreme Court of South Carolina, that a seal raised a presumption of the- existence of a consideration at the time the contract was entered into, but not that it had not since failed either whqlly or in part: and that while want of consideration could not be pleaded, failure might.” See also VanDyke v. VanDyke, 123 Ga. 680 . Sometimes it may appear that the practical result of defeating a recovery. on a promissory note by pleading and proving a total failure of consideration, arising out of some defect or reason existing when the note was given, is not very different from accomplishing the same end by calling it a want of consideration. But there is a technical difference between an absence or want of consideration and a failure of consideration, and in some cases the difference is substantial as well as technical. This is more manifest where the failure is only partial. 6 Am. & Eng. Enc. Law (2d ed.), 780.
Judgment affirmed.
All the Justices concur.
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