Quote: a contract is transferring a right for reciprocal benefit

Quotation

8. When a man transferreth his right upon consideration of reciprocal benefit, this is not free gift, but mutual donation, and is called contract. ... 9. In all contracts where there is trust, the promise of him that is trusted, is called a covenant. And this, though it be a promise, and of the time to come, yet it doth transfer the right, when that time cometh, no less than an actual donation. For it is a manifest sign, that he which did perform, understood it was the will of him that was trusted, to perform also.   Google-1   Google-2

Published before 1923

Additional Titles

Quote: a covenant is a contract involving trust; it was the will of him that was trusted, to perform as expected

Related Topics

Topic: legal issues (22 items)
Topic: trust (21 items)