U.S. v. Meadors
- In January 1977, MJD applied for a loan. It was approved subject to guaranty by the SBA. Guaranty was given in April 1977.
- On Jan application, list of possible gurantors was Melton Meadors, Judd and wife, Ducote and wife.
- In April 1977, Melton Meadors and Betty Meadors, the appellant, were married.
- Betty signed the SBA forms even though there was no space for her signature.
- MJD defaulted on the loan, and the SBA went after Betty Meador's assets.
- U.S. won in district court.
- Meadors appeals and wins.
- Is there consideration when a party that wasn't involved in the initial negotiation of a contract signs the final version of the contract when their signature is not required?
- Is a person bound to a contract when they sign it even though neither side required them to sign?
- There is no consideration when there is no bargain.
- Consideration is not given to a person who signs a contract when their signature is not required to make the bargain.
- The gov't suffered no detriment from her signing the contract, and Meadors gained no benefit from signing it.
- Whatever passed to her and her husband because of the loan would have passed without her signature, so no bargain was involved.