Is Gerard’s promise enforceable despite the lack of consideration? Explain. 1 answer below »

Summarize the elements for a valid contract.

Gerard, an events promoter and coordinator, promises to stage a concert for the benefit of Kids Care, a charitable organization dedicated to helping disadvantaged youth. In reliance on the anticipated receipts, Kids Care contracts for the construction of a residence for homeless teens. After the concert, Gerard tells Kids Care that he has decided not to donate the receipts to the organization.
Is Gerard's promise enforceable despite the lack of consideration? Explain.