Signs of contract, are either _express_, or _by inference_. Express, are words spoken with understanding of what they signify: and such words are either of the time _present_, or _past_; as, _I give_, _I grant_, _I have given_, _I have granted_, _I will that this be yours_: or of the future; as, _I will give_, _I will grant_: [Sidenote: Promise.] which words of the future are called PROMISE. [Sidenote: Signs of contract by inference.] Signs by inference, are sometimes the consequence of words; sometimes the consequence of silence; sometimes the consequence of actions; sometimes the consequence of forbearing an action: and generally a sign by inference, of any contract, is whatsoever sufficiently argues the will of the contractor. [Sidenote: Free gift passeth by words of the present or past.] Words alone, if they be of the time to come, and contain a bare promise, are an insufficient sign of a free-gift, and therefore not obligatory. For if they be of the time to come, as _to-morrow I will give_, they are a sign I have not given yet, and consequently that my right is not transferred, but remaineth till I transfer it by some other act. But if the words be of the time present, or past, as, _I have given_, or, _do give to be delivered to-morrow_, then is my to-morrow’s right given away to day; and that by the virtue of the words, though there were no other argument of my will. And there is a great difference in the signification of these words, _volo hoc tuum esse cras_, and _cras dabo_; that is, between _I will that this be thine to-morrow_, and, _I will give it thee to-morrow_: for the word _I will_, in the former manner of speech, signifies an act of the will present; but in the latter, it signifies a promise of an act of the will to come: and therefore the former words, being of the present, transfer a future right; the latter, that be of the future, transfer nothing. But if there be other signs of the will to transfer a right, besides words; then, though the gift be free, yet may the right be understood to pass by words of the future: as if a man propound a prize to him that comes first to the end of a race, the gift is free; and though the words be of the future, yet the right passeth: for if he would not have his words so be understood, he should not have let them run. [Sidenote: Signs of contract are words both of the past, present, and future.]