Contracts
In Oregon, a contract that lacks 'consideration' is:
AVoidable at either party's option
BVoid — without consideration, there is no enforceable contract✓ Correct
CValid if it is in writing and notarized
DEnforceable only if OREA approves it
Explanation
Consideration is a fundamental requirement for an enforceable contract. Without consideration (something of value exchanged by each party), there is no binding agreement — the contract is void. A promise to give a gift without receiving anything in return lacks consideration and cannot be enforced as a contract under Oregon law.
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