This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
If the question of the validity of a contract becomes material in equity the existence of a seal does not prevent equity from inquiring whether the instrument is supported by a valuable consideration, and from treating it as unenforceable if it appears that no consideration exists.1 Thus specific performance will not be given in equity upon a gratuitous promise under seal.2 This rule is especially true under a statute authorizing inquiry into the consideration of a contract under seal, to show want of consideration.3
 
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