Prince’s Briefcase: How Not To Pay Off Your Student Loans (Johnson v. Otterbein University)


Here is a case which a handwritten letter, promising to pay off your student loans, is not a legal consideration to enforce a promise

prince's breifcaseThis case comes from my Contracts class where we are studying the “Doctrine of Consideration.” Below is my case brief which thousands of law students use to help us understand the cases and root out the “issue.”

Case Name, Author, Citation
Johnson v. Otterbein University, Supreme Court of Ohio, 41 Ohio 527 (1885)


Procedural Posture

The defendant (Otterbein University) sues the appellant or plaintiff (Johnson) for failure to fulfill his promise stated in a note sent by the plaintiff. The note was a student repayment loan, and that the defendant alleged that it was without consideration and was denied in the reply. The court entered judgment in favor of the defendant and a motion for a new trial was overruled. The Plaintiff then preceded to appeal in efforts to reverse judgment of the trial court.

Facts.
The case is about the validity of the note, sent by Johnson to Otterbein University in what appears to be a Student Repayment Loan, and whether it should be a valid consideration to enforce his promise:

“$100
Westerville, Ohio, May 6, 1869
Three years after the date, I promise to pay to the trustees of Otterbein University of Ohio, or their agents, one hundred dollars, with interest, at the rate of no per cent., to be used exclusively to liquidate the present, that is, February (1869) indebtedness of said University. Should this donation ever be used for any other purpose than herein specified, the trustees of said University shall be held bound to refund said sum of money to the donor.
–John Johnson”

This note was signed and delivered to Spangler, an agent of Otterbein University, along with similar notes promising to pay $100 to the University in 3 years to help pay off the current University debt. These notes and others were accepted as a fund with which to liquidate his debt. The trustees of Otterbein (the defendant) then sued Johnson in December 1875 claiming that his 1869 note was not paid.

Issue
Prince: Does Johnson’s promise (in the form of a note(s)), that brings benefit to him or detriment to Otterbein University, constitute as a legal consideration?
Legal interpretation: Whether a valid consideration was given in a promise to pay money as a gift?

Holding
No; The court says that the creation of the fund (from the notes he sent) with which to pay the university’s indebtedness was not a consideration for the promise.

Reasoning
*Court: An executory contract “to give” is without consideration, and a promise to pay money as a gift may be revoked at any time before payment
Court: The trustees’ acceptance of the writing containing the direction to apply the fund did not give rise to a case of mutual promise (Prince: a mutual promise which both parties agreed to at the same time.

Prince’s Reasoning
A simple IOU note, or sticky notes, in the form of a letter saying “I promise to pay back my loan” in a fixed time frame is not a legal consideration to enforce a promise from the person who is making the promise (promissor)
**FOLLOW UP FROM CLASS: The fact is Johnson will be paying off his student loan debt regardless of any intervening factors. So his notes don’t count for anything. There is no benefit for Johnson or detriment to Otterbein. And Otterbein did not give a promise in an exchange for Johnson’s Promise. This is not a Bargain; more of a gratuitous promise

Rule
Court: A note to repay a student loan should be in the form of a promissory note. And any other forms should have an implicit duty to apply its proceeds to proper corporate objects that would rise upon acceptance. A promissory note is a valid consideration

Disposition
Judgment of Trial Court is reversed favoring the Plaintiff (instead of the Defendant)

Prince’s Takeaways

  • Know what is a legal consideration to enforce a promise
  • Don’t write a letter to your university promising to pay off your student debt in a fixed time frame. Under this case, a Promissory Note is more acceptable than a letter promising to repay your student loans. This is paying money as gift which is not a legal consideration
  • In Contracts, you will learn that reasonable people are not entirely reasonable in their words or actions when they strike deal–so we have rules to remedy “contract breaches” such as this one
  • This case was back in 1885, and a lot has changed. So don’t take it true to fact
  • Usually its the plaintiff (Johnson) that sues the defendant first. But since this decision came from the Supreme Court of Ohio, I guess the parties may have switched roles when they litigated up the state court system (In this case there is no mention that Johnson sued Otterbein first, just that he appealed)
  • $100 dollars is pretty reasonable for a student today to pay off his/her student loans!

To learn how to work from and make money online go to www.livelikeanentrepreneur.com

#FashionEmbassy Presents Fashions of the Future


IMG_8359

Timeless Tuesdays at the Bond Lounge. A once a month special occasion (the first Tuesday of every month) where you can network with entrepreneurs and see the latest trends in fashion with class. This month’s fashion featurette: Fashions of The Future.

A special thank you to Jaclyn Zukerman and Gilda (from the Bond Lounge) for coordinating this networking event. Jaclyn is a new socialite from New York and is in Boston to cover the latest social scenes. You can follow her on Twitter @jaclynzukerman.

To host networking events at the Bond Lounge contact Gilda at 617-956-8765 and visit their website at www.bondboston.com

Fashion Design: Fashions of The Future by Charles Neumann
Models: Dynasty Models
Photos by Prince Sefa-Boakye

To view these photos click on the link below.

#FashionEmbassy Presents Fashions of the Future (Flickr)

Visit @Miss_Bon_Vivant for more photos as well.

You can check out more coverage of fashion shows by going to my page #FashionEmbassy

Instagram: #boston #BostonEvents @bondboston1 @ladybond4 #princesdailyjournal #JZVIPTABLE #princeinthecity #work #study #play #networking @urbusinessnetwork #entrepreneur #fashion #bostonfashionweek #friends #champagne #models @dynastymodels @womenofboston

Run-In with Chef Andrew Yeo


20140414-123617.jpgToday I ran into Chef Andrew Yeo! The Man Behind my Lunch Special Food Review.

If you haven’t read my review of Andrew’s cuisine, click on Category “Cuisine & Dining”

Thanks Andrew for the #selfie and delicious cuisine! If you are in #Boston, I urge you to come here and have a morning breakfast or afternoon lunch! (He also tells me that he has best granola parfait yogurt in Boston! lol)

Instagram: #princesdailyjournal #cuisine #dining #foodie #foodphotography #cooking #cheers #chef #love #life #lunch #luxury #work #study #play #networking #entrepreneur #yelp #instagood #instagram #boston #bostonstrong

Cuisine & Dining: Artisan Bistro’s Lunch Special Food Review


Artisan Bistro's Lunch Special

Two weeks ago I had the opportunity to taste Artisan Bistro’s Lunch Special (prepared by Chef Andrew Yeo). Here is my food review for each item on the menu along with my concluding thoughts.

Winter Vegetable Veloute
Pumpernickel croutons, olive oil

First impressions are everything. And I must say that I was thoroughly impressed by the first item that I had on the menu.

20140406-233959.jpgThe vegetable veloute was superb. The finest dish that I had in Boston–now there are only two dishes that I consider to be the finest. What made this soup so special was its taste. The soup was absolutely sweet–not too sweet but a solid sweetness! The taste of veloute closely resembled pumpkin soup. However, unlike the pumpkin soups that I had in the past, this did not burn my tongue at all. The taste that I experienced was a warm sensation– filled sweet hidden undertones of pumpkin. The presentation and the preparation was perfect–the pumpernickel croutons had a nice finish.  My only critique was not knowing the delicious ingredients behind this delicious soup. I give this veloute a 10 out 10.

Garden Salad
Pickled Squash, Sweet Potato Chips, Dried Cranberries Manchego, Raspberry Vinaigrette

For this item on the menu, it is originally called the Garden Salad w/ Grilled Chicken. And the only two ingredients that I asked to leave out were the Grilled Chicken and the Walnut Vinaigrette.

20140406-234021.jpgThe Garden Salad was exceptional. The main ingredient which brought out the taste of this salad were the cranberries–pairing well with the Raspberry Vinaigrette dressing. What I also enjoyed most, from this dining experience, was tasting the sweet thin-sliced potato chips. There was nothing traditional about this Garden Salad! The presentation of this salad was a piece of art made by an artisan–a collage of colors onto one dish. My only critique is that I could not taste the pickled squash. Unlike the other ingredients in the salad, I could not taste this particular ingredient. I give this Garden Salad a 7 out 10.

Chocolate Creme Brulee
Biscotti, Blackberries

Desserts are essential in every dining experience. Desserts do not only leave behind flavor but lasting impressions on the whole dining experience.

20140406-234059.jpgThe Creme Brulee was par excellence. What I loved most about the Brulee was its element of surprise. When I took my first bite, I assumed that I would only be tasting the chocolate. But instead, I was welcomed with a sweet tingling sensation of glazed sugar on top of my palette and melted chocolate on top of my tongue. The best words to describe this taste are:  “crunchy on the outside and gooey in the inside“–which first resonated from my mind while I was finishing my plate. What made this experience even more sweeter were the black berries–which really does not need any explanation. Unfortunately I did not try the biscotti with this dessert, but it did add a touch of class to the whole presentation. My only critique is that brulee should have been a tiny bit warmer (for my tastes of course). I give this Creme Brulee a 9 out of 10.

My Cuisine and Dining Score for Artisan Bistro’s Lunch Special: 26 out of 30

Concluding Thoughts

The lunch special provided by Artisan Bistro was truly exquisite; all for $20.00. I send my compliments to Chef Andrew Yeo for doing a great job on the preparation and presentation of each plate. (If I had tried the Grilled Chicken with the Garden Salad, I would’ve boosted my score by 1-2 points.) My favorite dish, which I recommend to any guest who do come here for lunch, is the Winter Vegetable Voulete. It is probably the best dish that you can either treat yourself to or that special someone in your life.

But above all, what made this lunch special truly special was the service behind the meals.

It does not matter what time of day you walk-in to Artisan Bistro; to have your morning breakfast or daily afternoon lunch. It’s staff are always patient and considerate of your needs–They will not mind if you need to stay an extra 30 minutes to finish your job interview or complete an important errand.

Thank you Artisan Bistro for providing me with such great cuisine and a wonderful dining experience!

Artisan Bistro is located at 10 Avery St. Boston, Ma 02111

www.ritzcartlonhotel.com/artisanbistro

Related Articles

 

Cuisine & Dining Preview: Artisan Bistro (Lunch Special)


20140324-191529.jpgEarlier this afternoon I had the pleasure of tasting Artisan’s Bistro’s Three Course Lunch Special which included Winter Vegetable Velouté (soup), Garden Salad, and Chocalate Creme Brûlée (all for $20). This lunch special is for a limited time only! My food review on this delicious experience is on the way! Thank you Chef Andrew Yeo for lunch as well as breakfast!

Artisan Bistro
Ritz Carlton Hotel
10 Avery Place
Boston, Ma 02111

Instagram: #princesdailyjournal #boston #cuisine #dining #luxury #travel #entrepreneur #networking #foodie #yelp #yelper #hospitality #ritzcarlton #lunch #tea #healthy #love #life #logistics #bospoli #mapoli #malg #hotel #delicious

Throwback Thursdays: Cuisine & Dining at Artisan Bistro


Every week I post a miscellaneous article/review/blog that I have written in the past or an interview of an extraordinary individual.

This week’s Throwback Thursdays: Cuisine & Dining at Artisan Bistro.

20140306-164714.jpg

Having the right breakfast in the morning does make a tremendous difference in your work. And I experienced this while I was dining at Artisan Bistro, which is located inside Ritz Carlton Hotel at Downtown Boston.

Instead of starting my day with a cold bagel and hot coffee (in the size of a paper cup) at either Starbucks or Dunkin’ Donuts, I decided to treat myself to a Three-Star quality breakfast.

The first time that I visited this venue was when I was just promoting for AfriQue Events; I was looking for a venue for Roy AfriQue to host a possible a cocktail/networking event. When I walked in, I assumed Artisan Bistro only served dinner and drinks. But when I took a quick glance at the menu, I soon realized that they also served breakfast and lunch. Seeing this, I then decided to come back the following morning and try their breakfast–and boy was it the best decision that I could have ever made!

This is the very comment I made, when I first sat down at Artisan Bistro that morning:

“To my left was a beautiful retired couple who were sharing their travel adventures with their waiter; To my right was a group of business professionals, sitting at a long table, discussing productivity over a cup of coffee; and to my center was an entrepreneur who was reading the newspaper while conducting business on his laptop with a traveling bag at his side.”

Being surrounded by a group of professionals and entrepreneurs was quite aspiring–it almost felt like a rite of passage. And the mental ease I experienced that morning, cannot be put into words. Ever since my dining experience at Artisan Bistro, I have been enjoying my morning breakfast there for the past eight months!  My philosophy is this:

“If you are going to act like a business person, then you might as well eat like one!”

During my morning breakfasts at Artisan Bistro, I have ran into famous entrepreneurs like Mark Cuban (creator of Shark Tank) and athletic superstar David Ortiz (World Series MVP from the Red Sox)! 

And so my breakfast of choice, if you do decide to come here, is: Raisin Bran Cereal w/ Mixed Berries. (It goes well with a morning newspaper)

20140227-111026.jpg

With great food, comes great service. And I want to thank Artisan Bistro and their staff for their excellent food and service. Thank you Ivan, Byron, Robert, Judy, and to the rest of the morning staff for keeping me healthy and well taken care of!

To read my first dining experience at Artisan Bistro, click on the link below.

Cuisine & Dining: Artisan Bistro

Artisan Bistro (during Breakfast hours) is Open Seating, but you can call them to reserve a table at 617-574-7176.

You can also find them on Yelp! and Twitter at @RitzCarlton


LSAT CHRONICLES: My Back Up Plan. Everyone needs a good back up plan; mine happens to be Law School. FYI LAST DAY TO REGISTER FOR OCT TEST IS SEPT 3! Quote of the Day: “Hey Baby! If things don’t work out with your Man, let me be your BACK UP PLAN!” —blues guitarist LOL www.princesdailyjournal.com. #princesdailyjournal #boston #law #lawschool #lsat #suits #romance #candlelights #settingthemood #love #turnoffthelights #seduction #infatuation #study #writing #work #tea #wine #charm #cheers #luxury #lounge #afterparty (at Westin Copley)

LSAT CHRONICLES: My Back Up Plan


20130830-193631.jpg

LSAT CHRONICLES: My Back Up Plan. Everyone needs a good back up plan; mine happens to be Law School. FYI LAST DAY TO REGISTER FOR OCT TEST IS SEPT 3! Quote of the Day: “Hey Baby! If things don’t work out with your Man, let me be your BACK UP PLAN!” –blues guitarist LOL

At the Westin Hotel in Copley (Boston, MA)

Instagram: #princesdailyjournal #boston #law #lawschool #lsat #suits #romance #candlelights #settingthemood #love #turnoffthelights #seduction #infatuation #study #writing #work #tea #wine #charm #cheers #luxury #lounge #afterparty #back2school #hotel


Breakfast at the Wynn: I love the scenery and the food was ok, but I really do not like their dress code. My brother had to go back upstairs because he was wearing a tank top yet there are plenty of women here who are wearing tank tops—he was stopped when he was about to eat his food. My family paid a lot of money to dress down and relax. This is a really bad policy! They better change it soon. I really lost my tastes and appetite after seeing that. Profiling. Think twice before you go to the Wynn for breakfast on a hot day. www.princesdailyjournal.com #princesdailyjournal #lasvegas #breakfast #unsatisfied #cereal #hospitality #vivalasvegas #coffee #luxury #fail (at The Buffet at Wynn Las Vegas)