The general rule requires consideration for a valid contract, but Indian Contract Act, 1872 recognizes specific exceptions. Natural love and affection (Section 23), compensation for past voluntary services (Sec. 25(2)), and promises to pay time-barred debts (Sec. 25(3)) are all statutory exceptions where contracts are enforceable without fresh consideration. These exceptions promote family harmony, recognize past benefits, and encourage settlement of old debts.