Section 22 Failure of Consideration

• Library: Remedies 2006

Failure of consideration in the context of rescission means that something happened after execution of the document to make the consideration worthless or cease to exist. Failure of consideration is not generally considered a sufficient ground for the equitable remedy of rescission or cancellation. Radford v. Radford, 388 S.W.2d 33, 39 (Mo. 1965). There must be some recognized ground for the remedy, such as fraud, duress, or mistake. Id. In Radford, the Court held that, although a father deeded property to his son in exchange for a promise to pay over the rents, a failure to pay the rents did not warrant cancellation of...