Crawford v. Krueger

Citations

• 201 Pa. 348
• 50 A. 931
• 1902 Pa. LEXIS 838

Syllabus

<p>Debtor and creditor—Composition agreement—Accord in satisfaction— Consideration.</p> <p>Where a creditor is shown a composition agreement by which anothei' creditor agrees to relinquish a part of his claim, and he himself signs a similar agreement which is to be shown to the other creditors, the agreement will be binding, since the benefit which each creditor may derive from the mutual concession, is the consideration which sustains it and makes it an exception to the rule that a creditor is not bound by an agreement to accept less than the amount of an ascertained debt. The fact that one creditor whose claim is disputed was not a party, does not invalidate the settlement, the agreement not being contingent upon all the creditors settling.</p>