A promise that neither confers any benefit on the promisee nor subjects the promisor to any detriment is an illusory promise

Question

Quizplus · Accepted Answer

An illusory promise does not create a binding contract since it lacks consideration, which is when both parties receive some benefit or give up something of value. If a promise does not confer any benefit to the promisee or subject the promisor to any detriment, it does not qualify as consideration and is therefore an illusory promise.

A Promise That Neither Confers Any Benefit on the Promisee