431.020. Instrument of writing to import consideration--due and payable as specified. - Missouri Statutes

Instrument of writing to import consideration--due and payable asspecified.

431.020. All instruments of writing made and signed by anyperson or his agent, whereby he shall promise to pay to anyother, or his order, or unto bearer, any sum of money or propertytherein mentioned, shall import a consideration, and be due andpayable 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.