One, the evidence of which is merely oral, or
in writing, not under seal, nor of record. 1 Chit. Contr. 1 1 Chit. Pl. 88; and
vide 11 Mass. R. 30 ll East, R. 312; 4 Barn. & Ald. 588; Stark. Ev. 995; 2
Bl. Com. 472.
2. As contracts of this nature are frequently entered into without
thought or proper deliberation, the law requires that there be some good cause,
consideration or motive, before they can be enforced in the courts. The party
making the promise must have obtained some advantage, or the party to whom it
is made must have sustained some injury or inconvenience in consequence of such
promise; this rule has been established for the purpose of protecting weak and
thoughtless persons from the consequences of rash, improvident, and
inconsiderate engageinents. See Nudum pactum. But it must be recollected this
rule does not apply to promissory notes, bills of exchange or commercial
papers. 3 M. & S. 352.
Source: Bouviers Law Dictionary 1856 Edition