The formation of a contract requires an offer, acceptance, and consideration. See Murray v. MINNCOR, 596 N.W.2d 702, 704 (Minn. Ct. App. 1999), review denied (Minn. Sept. 28, 1999). The factor that distinguishes an unenforceable promise from an enforceable contract is consideration, or the “voluntary assumption of an obligation by one party upon condition of an act or forbearance by the other.” Id. at 530, 117 N.W.2d at 220 (citations omitted). “[A] contract is a promise or set of promises for the breach of which the law gives a remedy or the performance of which the law recognizes as a duty.” Cederstrand v. Lutheran Brotherhood, 263 Minn. 520, 529, 117 N.W.2d 213, 219 (1962) (citations omitted).