Stipulation or Verbal Contract
The stipulation (stipulatio) was the chief formal contract of the Romans. Its origin is unknown. It may be traced back to the earliest times, and it survived, in full force, though slightly modified in form, until the dissolution of the Empire.
It was made by words (verbis) and hence it is called the verbal contract. Its form consisted in question and answer. One party would ask the other if he would promise so and SO, and the other would reply that he so promised, and this promise, made in response to the question, constituted the contract. But the same promise made directly, without previous question, had no legal force.
The promise might relate to anything whatever, unless to do an act illegal, immoral, impossible, etc., and hence this form of contract was universally available. As declared in the Institutes, "Anything, whether movable or immovable, which admits of private ownership, may be made the object of a stipulation." (Inst. III, 19, 1.)
The stipulation was unilateral. It bound only the promisor. If, therefore, it was desired to make a contract with reciprocal promises, the single stipulation would not suffice. But such a contract might be made by the use of independent separate stipulations, each party making the desired promises in response to the appropriate questions.
Stipulation was a stricti juris negotium. It bound the promisor to do just what he promised, no more, no less. Thus if he promised to pay a certain sum of money, without promising to pay interest in case of delay in making payment, he was not bound to pay interest for such delay.