The want or failure, in whole or in part, of the consideration of a written contract, may be shown as a defense, total or partial, as the case may be, in an action on such contract, brought by anyone who is not an innocent and bona fide holder.
Code 1858, § 1806 (deriv. Acts 1849-1850, ch. 20, § 1; 1849-1850, ch. 60, § 1); Shan., § 3215; Code 1932, § 7830; T.C.A. (orig. ed.), §§ 47-1703, 47-15-104.
Textbooks. Tennessee Jurisprudence, 7 Tenn. Juris., Contracts, § 88; 13 Tenn. Juris., Fraud and Deceit, § 23.
Law Reviews.
Contracts — Promise Reasonably Inducing Definite and Substantial Action is Binding, 10 Tenn. L. Rev. 132.
Cited: Pinney v. Tarpley, 686 S.W.2d 574, 1984 Tenn. App. LEXIS 3353 (Tenn. Ct. App. 1984); Holt v. Wilmoth, 336 S.W.3d 234, 2010 Tenn. App. LEXIS 302 (Tenn. Ct. App. Apr. 30, 2010).