4.2.10 Failure of Consideration.

• Jurisdiction: Arizona

Failure of consideration consists of failure to perform, or carry out, or make good a promise given as consideration for an instrument. Sepo v. First Nat’l Bank of Ariz., 21 Ariz. App. 606, 522 P.2d 562 (1974).

Whether a failure of consideration has occurred may be a question of fact for a jury. Id.

Failure of consideration is an affirmative defense, and the party raising it bears the burden of proof. Walton v. Hager, 13 Ariz. App. 520, 478 P.2d 135 (1970); Sepo v. First Nat’l Bank of Ariz. 21 Ariz. App....