What Is Agreement Or Promise

In contracts, a promise is essential for a binding legal agreement and is given in exchange for the incentive to make a promise. A promise is illusory if the celebrity does not commit to anything and therefore does not issue any consideration for a valid contract. PROMISE, control. A commitment in which the celebrity gathers with another to do or do something for the benefit of the latter. 2. When a promise is reduced to the form of a written agreement under seal, it is called an alliance. 3. To bind the promiser, the promise must be made in exchange for sufficient consideration – if it is made without consideration, however, it can be conscientiously binding in foro, it is not legally binding, since it is nudum pactum. Rutherf. Inst. 85; 18 G.C. L.

Rep. 180, Note a; Merl. Rep. h.t. 4.