A promise is a commitment by someone to do or not do something. As a noun promise means a declaration assuring that one will or will not do something. As a verb it means to commit oneself by a promise to do or give.[1] It can also mean a capacity for good, similar to a value that is to be realized in the near future.[2]
In the law of contract, an exchange of promises is usually held to be legally enforceable, according to the Latin maxim pacta sunt servanda.