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Naked Contract |
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From the Latin term nudum pactum, or "bare promise" An agreement between two parties that is without any legal effect because no consideration has been exchanged between the parties. A naked contract is unenforceable. In Roman Law, a nudum pactum was an informal agreement that was not legally enforceable, because it did not fall within the specific classes of agreements that could support a legal action.A pactum could, however, create an exception to or modification of an existing obligation. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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