First, it seems that entering into the agreement with an "on the spur of the moment" mindset will lead to the eventual failure. Like a compulsive purchase, it is likely that regret will come. A wiser approach is that of delaying a decision, especially in those of higher consequence, and spend time in thought. This latter mindset though, if used in personal agreements, can lead to a negative association of ones character as the delay will be seen as possible indecision or dislike. Personal and business agreements are of course quite different, but they should be treated with the same type of precedence.
While thinking of the commitment there should be consideration of whether one is in a position that is favorable for the fulfillment of that contract. By breaking the contract, perhaps due to inability or misfortune, one can seriously damage their character. To remain in honor is of high value and such should be kept as a high priority. For those that fall in dishonor it is likely that rebuilding that honor will take a prolonged time. But, for those that continuously do as they promise others will notice and will hold them as likely of future benefit.
Misfortune though can happen, and this is something that must also be thought of prior to entering into the agreement. But by nature it can be difficult to measure. If misfortune occurs one should, if still within reasonable possibility, attempt to conduct repayment as to prevent the damaging of honor.
Honor then is nothing more than the good standing that comes about by continuous fulfillment of contracts.