Appellate Practice Attorney serving New York, NY
With few exceptions, one of the requirements for a valid contract is consideration. In other words, you must either give something to the other contracting party, or give something up, or there will be no contract. A promise without consideration is not binding. Thus, if the teacher had promised to take you to Disneyland in exchange for $1000, you might have a binding contract. Here, it does not seem as if you do.
Answered on Feb 05th, 2013 at 3:53 PM