A. H. Zehmer`s response admitted that W. O. Lucy was offering him $50,000 in cash for the farm at the time mentioned, but that he, Zehmer, thought the offer was made jokingly; that he thought so, and he and Lucy had several drinks, he wrote « the above memorandum » and encouraged his wife to sign it; that he did not pass on the memorandum to Lucy, but that Lucy retrieved it, read it, put it in his pocket, that he tried to offer 5 dollars to Zehmer to start the deal, which Zehmer did not want to accept, and when Zehmer first realized that Lucy was serious, Zehmer assured him that he did not intend to sell the farm and that this whole affair was a joke. Lucy left the scene and insisted that he buy the farm.  Mutual agreement or consent is obviously essential to a valid contract, but the law attributes to a person an intention that corresponds to the reasonable meaning of his or her words and actions. To bind the promiser, the promise must be made against sufficient consideration – but if it is made without consideration, it can be conscientiously binding in foro, it is not mandatory by law, because it is nudum pactum. Rutherf. Inst. 85; 18 .C. L.
Rep. 180, footnote a; Merl. Rep. h.t. 4. When a promise is made, everything that is said at this stage must be taken into consideration; So if a man promises to pay everything he owes, accompanied by a denial that he owes anything, no act will be to lay down such a promise. 15. 187.
5. And if the promise is conditional, the condition must be met before it becomes binding. 7 John. 36. Empty State. Commitments are explicit or tacit. Vide Undertaking et 5 East, 17 2 Leon. .