What characterizes an illusory promise?

An illusory promise is one that lacks the necessary element of consideration, which is essential to form a binding contract. For a promise to be considered binding, it must provide a real commitment or obligation. An illusory promise typically results in one party appearing to make a promise, but upon closer examination, it lacks the substance needed to obligate them to perform. Because it does not create a true obligation, the promise is essentially unenforceable in a court of law.

In contrast, if a promise binds both parties, involves consideration from both sides, or obliges a party to perform clearly, then it does not qualify as illusory. An example of an illusory promise would be one where a person says, “I will consider doing this if I feel like it,” as it allows the promisor the freedom to decide whether or not to follow through without any real commitment.