The institution of money encompasses many formal organizations, including banks and government treasury departments and stock exchanges, which may be termed, institutions, as well as subjective experiences, which guide people in their pursuit of personal well-being.
A covenant is a type of contract in which the covenantor makes a promise to a covenantee to do (affirmative covenant) or not do some action (negative covenant). In real property law, the term real covenants is used for conditions tied to the use of land.
Definition of promise. 1  1a : a declaration that one will do or refrain from doing something specifiedb : a legally binding declaration that gives the person to whom it is made a right to expect or to claim the performance or forbearance of a specified act.