Why does an illusory contract lack consideration?
A) because the consideration promised is unlawful and therefore void
B) because the person promises to perform an act or do something he or she is already under an obligation to do
C) because one or both parties can choose not to perform their contractual obligations
D) because the compensation paid is for work done in the past

Question

Quizplus · Accepted Answer

An illusory contract lacks consideration because it includes terms that allow one or both parties to choose not to perform their contractual obligations, making the contract unenforceable as there is no real commitment from the parties involved.

Why Does an Illusory Contract Lack Consideration