In order that a contract may be enforceable at law there must be a consideration for the promise.2

1 Streets Foundation of Legal Liability, Vol. II. Page 67.

2 Cooke vs. Bradley, 7 Conn., 57; Bailey vs. Walker, 29 Mo., 407;

Beaver vs. Fulp, 136 Ind., 595, 36 N. E. 418; Tulane vs. Clifton, 47 N. J., Eq. 315, 353; 20 A. 1086.

A simple promise without any consideration is known as a nudum pactum and is unenforceable.3

Certain exceptions to the rule in the cases of sealed instruments and negotiable instruments will be considered later in other places.