“An essential element in the creation of a contract is the presence of consideration. Section 1550, subdivision 4, of the Civil Code requires “sufficient cause or consideration” as one of the four elements of a contract. The absence of consideration is always a defense to an action brought by one of the original contracting parties. Consideration for a promise is an act or a return promise that is bargained for and given in exchange for the promise.”
[California Affirmative Defenses [certain citations omitted]]
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