Browse:  A B C D E F G H I J K L M N O P Q R S T U V W Y Z
     
Enter a Legal Term

Search the Definitions

promise

1) n. a firm agreement to perform an act, refrain from acting or make a payment or delivery. In contract law, if the parties exchange promises, each promise is "consideration" (a valuable item) for the other promise. Failure to fulfill a promise in a contract is a breach of the contract, for which the other party may sue for performance and/or damages. 2) v. to make a firm agreement to act, refrain from acting or make a payment or delivery.

See also: consideration  contract  covenant 

From the Law.com Newswire



The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications