Derek Moran
FORMAL CONTRACT: also called a DEED, in writing and UNDER SEAL by the PROMISOR. If a contract was written and SEALED by the promisor, the formal act of applying a SEAL to the document was seen as evidence of a serious INTENTION to MAKE and KEEP a PROMISE. Contracts under SEAL were the first to be ENFORCED by the courts. A seal is required to enforce a promise if there is NO CONSIDERATION. The existence of the seal indicates that the party signing the document INTENDS to be BOUND by the agreement even when he or she receives no consideration from other parties, as in cases where the PROMISOR is promising a GIFT to someone. This can be important if, as in TAX CASES, it matters that a CONVEYANCE of something is meant to be seen as a GIFT and not something else. It is also usual for the document to be signed by the person who WITNESSED the promisor signing and affixing the seal to the document.