I must say a word more concerning the facts which
constitute a promise. It is laid down, with theoretical truth,
that, besides the assurance or offer on the one side, there must
be an acceptance on the other. But I find it hard to think of a
case where a simple contract fails to be made, which could not be
accounted for on other grounds, generally by the want of relation
between assurance or offer and consideration as reciprocal
inducements each of the other. Acceptance of an offer usually
follows by mere implication from the furnishing of the
consideration; and inasmuch as by our law an accepted offer, or
promise, until the consideration is furnished, stands on no
different footing from an offer not yet accepted, each being
subject to revocation until that time, and each continuing [304]
until then unless it has expired or has been revoked, the
question of acceptance is rarely of practical importance.
Assuming that the general nature of consideration and promise is
understood, some questions peculiar to bilateral contracts remain
to be considered. These concern the sufficiency of the
consideration and the moment when the contract is made.
A promise may be a consideration for a promise, although not
every promise for every other.
Pages:
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379