Is a conveyance for sale for $40 set aside?

The following extracts from the judgment of James, V.C., in Hughes v. Seanor, supra, will sufficiently show the facts and reasons for decision in that case: The instrument purports to be a conveyance for sale for valuable consideration. The plaintiff says, “I never agreed to enter into any such contract.” It is proved that there never was an agreement for a sale for £40, which would be a consideration utterly absurd and grossly inadequate. Therefore the conveyance cannot stand as a sale. But then the defendants say, “True it is there never was a sale, but it was a transaction of bounty on the part of the father” * * * In short the deed must cither stand as a sale for £40, or as a gift. There never was a sale for £40. On the other hand, it is not the deed of gift which it purports to be. Therefore it must be set aside * * *