Agreement of Social Nature is Unenforceable Because it Lacks Legal Consideration
An agreement of social nature is a type of agreement that is not enforceable by law because it lacks legal consideration. Legal consideration refers to something of value that is offered by each party to the agreement in exchange for something of value from the other party. It is a fundamental element of a legally binding contract.
Social agreements are not legally binding because they generally do not involve consideration. Consideration is what makes an agreement legally binding because it shows that each party has something to gain or lose in the agreement. Social agreements are typically made between family members, friends, or acquaintances, and involve promises to do something for each other without any expectation of payment or benefit in return.
For example, if two friends agree to have dinner together, this would be considered a social agreement. Neither friend has offered anything of value to the other, and neither expects anything in return. As such, this agreement is not legally enforceable.
Another example of a social agreement could be a promise by a parent to pay for their child’s college education. While this promise may seem like a binding agreement, it is not legally enforceable because it lacks legal consideration. The parent is not offering anything of value to the child, and the child is not offering anything of value to the parent in exchange for this promise.
In contrast, a contract between an employer and an employee is legally binding because it involves legal consideration. The employer is offering the employee a job and a salary, while the employee is offering their time, skills, and effort in exchange. There is something of value being offered by each party to the agreement.
In conclusion, agreements of social nature are not enforceable by law because they lack legal consideration. Legal consideration is a necessary element of a legally binding contract, and without it, the agreement is considered to be voluntary and unenforceable. While social agreements may be important for personal relationships, they should not be relied upon as legally binding agreements.