All India Bar Examination (AIBE) 4-IV Previous Year Question Papers with Answers

The correct option is A: Void.

As a general rule, an agreement made without consideration is void, meaning it has no legal effect and cannot be enforced by either party. Consideration is the basic reason a party enters into a legal contract. It is something of value given to someone in return for goods, services, or some other promise. Consideration can take various forms, such as money, property, a promise, an act, or even refraining from doing an act. Consideration is the price one pays for another's promise. Without consideration, there is no bargain or exchange between the parties, and therefore no contract.

There are some exceptions to this rule, such as contracts under seal, contracts based on promissory estoppel, and contracts made out of natural love and affection. However, these exceptions are rare and specific, and do not apply to most contracts. Therefore, the general rule is that an agreement made without consideration is void.