Share this site with del.icio.us Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





naked contract

Definition

Agreement without a consideration, hence just a promise. Naked agreements (unless made by a deed) are not binding in law, and are called 'nudum pactum' (Latin for, naked contract) governed by the legal maxim 'ex nudo pacto non oritur actio' (a right of action does not arise from a naked contract). Also called naked agreement.


Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z