Consideration is defined as something of value or something bargained for in exchange for a promise. Normally, if consideration is absent:
A) only the offeree may enforce the promise
B) only the offeror may enforce the promise
C) either party may enforce the promise
D) neither party may enforce the promise
E) none of the other choices

Question

Quizplus · Accepted Answer

Consideration is a necessary element for the formation of a contract. If consideration is absent, then the contract is not enforceable by either party, as there is no exchange of value or promises to enforce. Therefore, neither party may enforce the promise.

Consideration Is Defined as Something of Value or Something Bargained