... that a moral obligation should be sufficient consideration. It was only in the case of Eastwood v Kenyon[1840] that Lord Denman confirmed that the law required some factor additional to a defendant's promise, which is, consideration, whereby the promise becomes legally binding. So, if a party makes a promise and the other party offers nothing in return, such a promise will be nudum pactum or gratuitous and unenforceable for lack of consideration. It should be noted that consideration is a necessary element in all simple contracts. Formal deeds, on the other hand, which are formal contracts under seal, do not require consideration in order for the contract to be binding. The statute of Frauds 1677, the Law of Property (miscellaneous Provisions) Act 1989, etc required some classes of contracts to be evidenced in writing. As contracts are promises which have legal sanctity, they are binding on the ...

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