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What is an illusory contract?

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Relevant answers:

Is an output contract a special form of an illusory contract?
No, output contracts can be binding contracts. An output contract is where one party contracts to purchase all of the goods made by a second party. It appears to be an illusory agreement because the...
Simple contract special contract?
They are valid element of a contract they are offer and acceptance, legality consideration capacity terms
What contracts are considered to be speciality contracts?
Hire purchase contract/installments contract. lease
How can you get out of a contract?
get sued, unless you have a good reason, then hire a lawyerTry to find a loop hole in the contract. If you can't see one I would suggest meeting with the people you made the contract with and trying...
What does a contract is a contract is a contract mean?
That phrase is simply re-itterating that you've signed a binding contract. A (blank) is a (blank) is a (blank) is a phrase that is used when someone wants to re-itterate that fact that the blank is...