A contract or agreement, not under seal, may be defined, or described to be the mutual assent of two or more persons, competent to contract, founded on a sufficient and legal motive, inducement, or consideration, to perform some legal act, or omit to do any thing, the performance whereof is not enjoined by law (At). From which definition it appears that to constitute a sufficient agreement, there must be: 1st. The reciprocal or mutual assent of two or more persons competent to contract; – 2ndly. A good and valid consideration; – 3rdly. A thing to be done which is not forbidden, or a matter to be omitted, the performance of which is not enjoined by law (“It is of the essence of obligations that there should be, 1st, A cause from which the obligation proceeds; 2ndly, Persons between whom it is contracted; and, 3rdly, Something which is the object of it.” Pothier on Obligations. Part 1. Ch. 1.).
12 March 1775 – 17 February 1841 A Practical Treatise on the Law of Contracts Not Under Seal; and Upon the Usual Defences to Actions Thereon, 1834.
see also Natural Law
see also Intention To Create Legal Relations