Baeder's Estate

Citations

• 224 Pa. 452
• 73 A. 915
• 1909 Pa. LEXIS 823

Syllabus

<p>Husband and wife — Assignment—Contingent interest in estate — Consideration — Want of consideration — Acknowledgment.</p> <p>1. An assignment by a wife of an expectancy of an interest in the income from her father-in-law’s estate contingent upon her surviving her husband, in consideration of the conveyance to her of several valuable pieces of real estate and the cancellation of a large debt of het husband to the assignee, cannot be sustained because of the provision for the cancellation of the husband’s debt, if the assignee refuses to convey to the assignor the real estate mentioned in the assignment.</p> <p>2. Such an assignment is not valid at law at the time it is executed, but is merely an executory agreement to be equitably enforced when the interest which it is intended to convey vests in the assignor. If the assignee fails to deliver the valuable consideration moving directly to the assignor, he cannot call for performance by her. It may be that without the consideration moving directly to her she would not have assigned her interest merely to secure the payment of her husband’s indebtedness.</p> <p>3. Although an assignment acknowledges the receipt of the conveyance of certain properties which were the consideration for the assignment, such acknowledgment is not conclusive.</p>