The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1909-02-18
CONTRACTS IN GENERAL.

As a general rule. all persons are
capable of making binding contracts.
There are some exceptions to this rule
as. for instance, persons under age
called minors, insane persons, IDIOTS
nersons so intoxicated at the time, that
they are deprived of their reason ana
nersons who are under dnress. that Is,
under restraint by force or violence, or
threatened violence. Formerly married
women were legally incapable OF making
binding contracts. but the laws IN reia'
tionto them have been radically changed,
40 that in many of the states, especially
in the middle West, married women are
a. free to contract a. men are.
As general rule, parties are Tree I'd
contract about whatsoever they .pieas',
Int the law will not uphold or enforce
> contract which is illegal or immoral
or against public policy, or IN cases
where the consideration is impossible
Consideration means that which either
Of the parties does, or promises TO 40
II involves the idea Of something VaIu-
able in money sense, which either
marty parts with, and the other &C
quires, like the payment OF m pneY' Tue
performance Of labor, the delivery OF
property. and the like. A mere promise
by one party to pay money or perform
labor or deliver property, where the
other party does nothing, aud does nov
agree to ANYTHING, and i not under any
moral obligation, is not contract Inc
law does not recognize II aud Will not
enforce il. 1t il called "a naked prom
i-e, because it is without considerations
If | promise to DO something for yon'
and YOU have neither done anything ioi
mo ror promised to do anything for me,
there is no consideration for me, ana my
uroui4e i a naked one and cannot be
enforced at law. But, if my promise l.
based upon something you have done,
or DO or promise to do for me, there l.
mutualitv in the transaction, ana the
| something which You have done, do, or
promise to do for me, is the consider
alton moving to me, and my promise l.
! the consideration moving TO you, ana
the contract is binding on both OF Us
! A. between the parties themselves,
! even A promi-sOry note could not ~
collected by law if it was given with
ont any consideration; but if the note l.
negotiable, taat is, payable to order OF
hearer and il passes into the hands OF
an innocent purchaser, for valne, before
it j. due, ne can enforce its payment bS
law. although it was given without any
consideration.
A contract always involves an ole
made by one party and an acceptance o
rnp offer by the other. An offer which
ia not accepted 10y the party to whom
lit is made can be Withdrawn hv to-
party who made it, He can WITHDRAW
II mt any time before acceptance. II (
receives lay mail letter from t. con
tanning nm offer, and Immediately mail
u letter to b accepting the offer, hetor
q he il notified that it il Withdrawn, tn
: contract il complete and binding O
! both parties, although before the tecelr
= If the acceptance, b has mailed leitt
+ to A withdrawing the offer Iettt
= containing definite offer, aud lette
h in answer thereto, containing II detinlt
: acceptance of such offer, constitute
u written contract, binding in all cas-
d where the contract is required 10y law
e be in writing Wisconsin Farmer.