Nair provides an exhaustive analysis of "Quid pro Quo" (something for something). He clarifies the exceptions to "No consideration, No contract" and the doctrine of privity of contract (how a stranger cannot sue, yet exceptions exist).
, a contract is defined under Section 2(h) as an "agreement enforceable by law". This definition establishes a two-tier requirement: the existence of an agreement and its legal enforceability. 1. The Essentials of a Valid Contract Law Of Contract Krishnan Nair Pdf