Understanding agreement without consideration

Querist : Anonymous (Querist) 03 August 2011 This query is : Resolved
We got understanding agreement made on 12-01-1995 on Rs. 20/- stamp paper without notarized.

As per this agreement we had transfer the Agriculture land without consideration to Mr. A.M.Patel(Non family person) for N.A. Mr. A.M.Patel has to get N.A. or non N.A. same land transfer to our name in registrar office without consideration.

In this case the understanding contract without consideration and without notarized is VIOD ?

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