It is a disputed point whether voluntary subscriptions by a number of persons for an object in which they have a common interest - as for instance the building of a church - are binding upon the parties. Some courts enforce such promises on the theory that the promise for one is a consideration for the promise of the others.22 The weight of authority, however, is to the contrary.23 In the case of subscription, for stock of a corporation, there is no binding contract without some consideration. This sort of subscription follows the general rule just stated. In many states, however, the legislature in providing for the organization of corporations, has declared that subscriptions made in pursuance of the statutory steps required for organization shall be binding without the necessity for a consideration.24

21 Barnett vs. Bock, 94 Minn, 138; 102 N. W., 390; McNish vs. Reynolds, 95 Pa., 483; Pool vs. Docker, 92 EL. 501, 510; Coleman vs. Eyre, 45 N. Y.,38; Matthew, vs. Meek, 23

Ohio St, 272-292; Keep vs. Goodrich, 12 Johns, 397; Greve sey vs. Packwood, 12 How., 126-137. 21 5, Modem 411