promise

In common law, a promise is a declaration that someone will do or refrain from doing something. For a promise to be legally enforceable as a contract, it must have consideration. Consideration is something of value given in exchange for a promise, such as a benefit received by one party or a detriment incurred by the other. This means a promise alone, without something given in return, is generally not legally binding. The doctrine of consideration serves to provide evidence of a contract, guard against rash actions, discourage questionable transactions, and identify enforceable agreements. While unique to common law, other legal systems have similar functions to ensure promises are upheld.123456