ALLEGHENY COLLEGE V. NATIONAL CHAUTAUQUA COUNTY BANK
159 N.E. 173 (1927)
NATURE OF THE CASE: Allegheny (P). College, appealed decision of the Appellate Division affirming judgment in favor of National (D) entered upon the dismissal of P's complaint alleging breach of contract regarding charitable subscription.
FACTS: Allegheny College (P) was out fund raising to secure an endowment of $1,250,000. Some of that money was pledged by Mary Johnston in the sum of $5,000 payable 30 days after her death if P would use it to establish a memorial in her name. The sum was given in consideration of her interest in Christian Education in preparing those for the Ministry. The pledge was to bear interest until paid and the proceeds were to be added to the Endowment of the institution to be expended in accordance with her instructions. The pledge was only valid on the condition that the provisions of her will would be first met. The sum of $1,000 was paid in December 1923 while Mary was alive. P set the money aside to be held as a scholarship fund for the benefit of students preparing for the ministry. In July 1924, Mary repudiated the promise. Thirty days after her death, P brought this action against the executor of her estate. The trial court ruled that the obligation was invalid. P appealed.
ISSUE:
RULE OF LAW:
HOLDING AND
DECISION:
LEGAL ANALYSIS:
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