Basketeria Stores, Inc. v. Public Indemnity Co.

Clarkson, J. The questions involved on this appeal: (1) Is the assured protected under an automobile insurance policy, which provides *538 that tbe company will not be liable if tbe car is driven or manipulated by a person under tbe age of sixteen years, when tbe car is driven by a person under tbe age of sixteen years, not tbe agent of tbe assured, and without tbe knowledge or consent of tbe assured? (2) Was there valid consideration to support tbe contract pleaded by tbe defendant? Tbe first question need not be decided. As to tbe second question, we think tbe contract pleaded by defendant valid, and plaintiff cannot recover in this action. Tbe agreement was under seal, which imports consideration. Thomason v. Bescher, 176 N. C., 622, 625. Tbe agreement recites “in consideration of tbe mutual promises herein contained and other valuable consideration.” Tbe contract indicated that there was detriment to tbe defendant and benefit to tbe plaintiff, either of which is recognized as valuable consideration. “Any benefit to tbe promisor or any loss or detriment to tbe »promisee is a sufficient consideration to support a contract.” Fawcett v. Fawcett, 191 N. C., 679, 681; Warren v. Bottling Co., ante, 288, 291. Tbe cases cited by plaintiff are not applicable under tbe facts in this case. We do not think tbe solemn agreement, under seal, with recitals, is a “scrap of paper,” but a valid and binding agreement. Tbe judgment of tbe court below is Affirmed.