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what are agreements that lack consideration what we're asking here is under some certain scenario contracts that lack consideration May indeed still be enforceable While others are not enforceable that is they are not a valid contract so let's begin with the basic premise for a contract to be enforceable you generally need three elements one an offer to an acceptance of that offer by another party and three the presence of something of value that is being exchanged by the parties now the value must go both ways if value just goes from one party to the other without some reciprocal return of value then that's a gift there's no consideration or nothing of value coming back from the other party so that's the context in which we're using the word consideration as a required element of a contract that there'd be some form of value being exchanged okay now there are scenarios in which an otherwise purported agreement lacks the presence of consideration what are those scenarios well first yo...
