sent Or Past

Words alone, if they be of the time to come, and contain a bare promise,
are an insufficient signe 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 signe I have not given yet, and consequently that my right is not
transferred, but remaineth till I transferre 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 morrows Right given away
to day; and that by the vertue of the words, though there were no
other argument of my will. And there is a great difference in the
signification of these words, Volos Hoc Tuum Esse Cras, and Cros Dabo;
that is between "I will that this be thine to morrow," and, "I will
give it to thee to morrow:" For the word I Will, in the former manner
of speech, signifies an act of the will Present; but in the later, it
signifies a promise of an act of the will to Come: and therefore the
former words, being of the Present, transferre a future right; the
later, that be of the Future, transferre nothing. But if there be other
signes of the Will to transferre a Right, besides Words; then, though
the gift be Free, yet may the Right be understood to passe 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 runne.

Signes Of Contract Are Words Both Of The Past, Present, and Future In
Contracts, the right passeth, not onely where the words are of the time
Present, or Past; but also where they are of the Future; because all
Contract is mutuall translation, or change of Right; and therefore he
that promiseth onely, because he hath already received the benefit for
which he promiseth, is to be understood as if he intended the Right
should passe: for unlesse he had been content to have his words so
understood, the other would not have performed his part first. And
for that cause, in buying, and selling, and other acts of Contract, A
Promise is equivalent to a Covenant; and therefore obligatory.

Merit What

He that performeth first in the case of a Contract, is said to MERIT
that which he is to receive by the performance of the other; and he hath
it as Due. Also when a Prize is propounded to many, which is to be given
to him one