Your interpretation would fundamentally defeat the purpose of almost all contract law.
The promise of payment itself is consideration. The refusal to honor that promise is the breach of the contract. The contract itself doesn't become invalid because one party breaches the contract. Again, such an interpretation would fully the entire purpose of contract law.
The promise of payment itself is consideration. The refusal to honor that promise is the breach of the contract. The contract itself doesn't become invalid because one party breaches the contract. Again, such an interpretation would fully the entire purpose of contract law.