Every agreement requires a consideration to support it. Therefore if the warranty is not made at the time of the sale it is not binding, unless it is made upon a new and separate consideration.6 But a warranty made any time during the period of the negotiations touching the sale, would be considered as made at the time of the sale.7 A separate consideration would therefore in such a case not be required. But the whole series of transactions must amount to one single contract.8

The time and place, to which the statement of warranty is deemed to apply respecting the subject matter of the sale, must be presumed, under ordinary circumstances to apply to the time and place of making the contract.9 A written contract of sale contained the following statement of warranty. "Party of the first part hereby guarantees that this wine is in good condition and a merchantable article", and as to the query, as to what time the warranty referred to, the court held that the guaranty had reference to the condition and quality at the date of the agreement, and not to the terms when the warehouse receipts were to be turned over which was to be at a later date, the goods meanwhile remaining in the possession of the vendor.10 It is entirely competent for the parties by apt words to themselves fix the time and place to which the warranty is to be applied,11 but in their failure to do that, the general presumption governs.

6 Towell vs. Gatewood, 3 Scam.

(I11.), 22, 33 Am. Dec, 437. 7 Way vs. Martin, 140 Pa. St., 499.

8 See Way vs. Martin, supra. 9 Luthy & Co. vs. Waterbury, 140 I11., 664.