What is the test for a contract where a party contracts to cut for a quantity of wood and haul and deliver the wood at a time and to a place mentioned?

In Byers v. McMillan, supra, the appellant, in writing, contracted to cut for the respondent a quantity of wood and haul and deliver the same at a time and to a place mentioned, the respondent to pay for the same on delivery. Before the agreement was signed there was a verbal agreement between the parties that in default of payment by the respondent the wood could be held by the appellant as security and sold for the amount of his claim.