Agreement without consideration is valid when made out of love and affection due to near relationship.

When two parties enter into an agreement, it is generally expected that there must be a consideration exchanged between them. Consideration refers to something of value, such as money, goods, or services, that is given by one party in exchange for something else from the other party. However, there are certain exceptions to this rule, and one of them is when the agreement is made out of love and affection due to a near relationship.

Explanation:

1. Out of love and affection:
When an agreement is made purely out of love and affection between parties who are closely related to each other, it is considered valid even without any consideration. This exception recognizes that there are certain relationships, such as between family members or close friends, where the motive for entering into an agreement is not based on commercial considerations but rather on emotional bonding and affection. In such cases, the law allows the agreement to be enforceable even in the absence of consideration.

2. Due to near relationship:
The exception of agreements made out of love and affection applies specifically to relationships that are considered to be close or near. This typically includes relationships between family members, such as between parents and children, spouses, siblings, or grandparents and grandchildren. The law recognizes that these relationships are based on love and affection, and therefore, any agreement made between parties in such relationships will be considered valid even without consideration.

3. Validity of the agreement:
When an agreement is made out of love and affection due to a near relationship, it is important to note that the agreement must still fulfill other requirements of a valid contract. This includes having the essential elements of a contract, such as offer, acceptance, intention to create legal relations, and certainty of terms. Additionally, the agreement must not be illegal or against public policy.

Conclusion:
In summary, an agreement without consideration is valid when made out of love and affection due to a near relationship. This exception recognizes the special nature of relationships based on love and affection and allows parties in such relationships to enter into enforceable agreements even without the exchange of consideration. However, it is essential that the agreement fulfills other requirements of a valid contract.