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justice Oliver Wendell Holmes once famously said that the duty to keep a contract at common law means the prediction that you must pay damages if you do not keep it and nothing else imagine you sign a contract stating that you will perform renovations at another persons apartment in return for $500 payment upfront and $3,000 total Holmess quote suggests that you have not so much promise that you will do the renovations but only that you promise to perform or pay damages if you do not do them the distinction may initially seem unclear or even only a matter of semantics but today were going to discuss promissory fraud a doctrine that demonstrates just how important this distinction is and by the way I have a small obsession with promissory fraud and Greg clap and I have written an entire book called insincere promises and so if you want to learn more about it you can always look up that book so a claim of promissory fraud is simply a claim that when a promise or made a promise the pr