Apply the following material to questions 1 and 2 below..

Some view consideration as a technicality that allows people to make promises and then back out of them. Perhaps all promises should be enforced. In Japan, for example, promises to give gifts are enforceable without consideration.

In the United States, if I promise to give you a gift merely because I feel like being nice, I can freely change my mind as far as contract law is concerned. A court will not make me follow through because there is no consideration.

In Japan, I would be obligated to buy the gift if all other elements of a contract were presentan offer, an acceptance, and so forth.

1. When it comes to giving gifts, which is betterthe Japanese or American rule?

2. Are there any specific types of agreements (perhaps high-value, long-term, extremely time-consuming ones) that should definitely require consideration?