4. The words “The enactments mentioned in the Schedule hereto are repealed to the extent specified in the third column thereof ,
but” rep. by Act 10 of 1914, s. 3 and the Second Schedule .
11
(b)When the person to whom the proposal is made signifies his assent thereto, the proposal is
said to be accepted. A proposal, wh en accepted, be comes a promise;
(c)The person maki ng the proposal is called the “promisor ”, and the person accepting the
propos al is called the “ promise e”;
(d)When, at the desire of the promisor, the promisee or any other person has done or abstained
from doing, or does or abstains from doing, or promises to do or to absta in from doing, something,
such a ct or abstinence or promise is called a consideration for the promise;
(e)Every promise and every set of promises, forming the consideration f or each other, is an
agreement;
(f)Promises which form the consideration or part of the consideration for each other are called
reciprocal promises;
(g)An agreement not enforce able by law is said to be void;
(h)An agreement en forceable by law is a contract;
(i)An agreement which is enforceable by law at the option of one or more of the parties thereto,
but not at the option of the other or others, is a voidable contract;
(j)A contract which ceases to be enforceable by law becomes void wh en it ceases to be
enforceable.
CHAPT ER I
OF THE COMMUNICATION, ACCEPTANCE AND REVOCATION OF PROPOSALS