In the case First National Bank of Montgomery v. Jerome Daly , Jerome Daly claimed that the bank did not offered a legal form of consideration .
The money loaned to Jerome Daly was created upon signing of the loan contract .
In the case First National Bank of Montgomery v. Jerome Daly , Jerome Daly claimed that the bank did not offered a legal form of consideration because the money loaned to him was created upon signing of the loan contract .