Not a lawyer but my understanding is that a valid contract must involve an exchange of value from both parties
Yes, but that value can be pretty trivial. It's not uncommon in the UK to have a 'ground rent' of one peppercorn a year (for weird reasons of property ownership rules of flats).
alt Hacker News
Yes, but that value can be pretty trivial. It's not uncommon in the UK to have a 'ground rent' of one peppercorn a year (for weird reasons of property ownership rules of flats).