This is right, but misleading. Consideration isn't the big question in this thread. It's whether or not a verbal agreement can be binding. In some cases it can

This is right, but misleading. Consideration isn't the big question in this thread. It's whether or not a verbal agreement can be binding. In some cases it can be, but a mere agreement to agree is not binding. The biggest takehome is 'consult with legal before making promises or representations to counterparties". Edited this a few times to keep it as short as possible without being misleading.