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.
Structure 2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 50 - Miscellaneous Provisions
§ 47-50-101. Private and Corporation Seals Abolished
§ 47-50-102. Assignable Instruments — Suit by Assignee
§ 47-50-103. Written Contracts Prima Facie Evidence of Consideration
§ 47-50-104. Failure of Consideration — Defense
§ 47-50-105. Nonnegotiable Orders for Payment of Money
§ 47-50-106. Action on Instruments May Be Joint or Several
§ 47-50-107. Action on Protested Bill May Be Joint or Several
§ 47-50-109. Procurement of Breach of Contracts Unlawful — Damages