When there is no consideration for a promise, the agreement is:
A) a quasi contract.
B) equitable.
C) not binding.
D) unethical.

Question

Quizplus · Accepted Answer

When there is no consideration for a promise, the agreement is not binding, meaning it is not legally enforceable. Consideration refers to something of value exchanged between parties in a contract. Without consideration, there is no binding contract. Option A, quasi contract, refers to a legal fiction in which a court may create a contractual obligation to prevent unjust enrichment. Option B, equitable, is not applicable in this scenario. Option D, unethical, is not relevant to the legal enforceability of a contract.

When There Is No Consideration for a Promise, the Agreement