We present orbit-resolved spectroscopy and orbit-sampled photometry of the binary system PG 1114+187. Both photometry and radial velocity studies reveal a period P = 1.75992 days, which is taken to be the orbital period of the binary. Strong modulation of emission-line strength with the same period is also present. A preliminary mass ratio, M2/M1 ≈ 0.7, is found from primary- and secondary-star radial velocity amplitudes. No evidence is seen for either an accretion disk or mass transfer, leading to the conclusion that PG 1114+187 is not a cataclysmic variable (CV) but is in a pre-CV state, before the initiation of mass transfer. The short orbital period also leads to the conclusion that the system passed through a common-envelope phase at some time in the past. The current list of known post–common-envelope and precataclysmic binary stars is also reviewed and the general properties of this class of star are discussed.