* * *
A naked contract is not enforceable.
There are risks associated with writing naked contracts that one is unable to deliver.
Financial and business terms. 2012.
naked contract — 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. Dictionary from West s… … Law dictionary
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
naked — [nā′kid] adj. [ME < OE nacod, akin to Ger nackt < IE base * nogw , naked > Sans nagná , L nudus] 1. a) completely unclothed; bare; nude b) uncovered; exposed: said of parts of the body 2. lacking clothing, means of support, etc.;… … English World dictionary
naked — Bare; wanting in necessary conditions; incomplete, as a naked contract (nudum pactum), i.e., a contract devoid of consideration, and therefore invalid; or, simple, unilateral, comprising but a single element, as a naked authority, i.e., one which … Black's law dictionary
naked — Bare; wanting in necessary conditions; incomplete, as a naked contract (nudum pactum), i.e., a contract devoid of consideration, and therefore invalid; or, simple, unilateral, comprising but a single element, as a naked authority, i.e., one which … Black's law dictionary
contract — a legally binding agreement between two or more parties. Glossary of Business Terms A legally enforceable agreement between two or more parties for performing, or refraining from performing, some specified act; e.g., delivering 5,000 bushels of… … Financial and business terms
Contract — A term of reference describing a unit of trading for a financial or commodity future. Also, the actual bilateral agreement between the buyer and seller of a transaction as defined by an exchange. The New York Times Financial Glossary * * * ▪ I.… … Financial and business terms
Naked Women's Wrestling League — Acronym NWWL Founded 2004 Defunct sometime in 2009 Owner(s) Howard Mann … Wikipedia
Naked (Louise album) — Naked Studio album by Louise Released 24 June 1996 Genre … Wikipedia
Naked Killer — Directed by Clarence Fok Yiu leung Produced by Wong Jing … Wikipedia
