Multiple Choice Questions on What do you mean by Nudum Pactum ........ for SEBI Grade A ( Officer) Exam Preparation

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    What do you mean  by Nudum Pactum?

    Illegal object

    Incorrect Answer

    Contract formed on alien barren land

    Incorrect Answer

    Melafide Practice

    Correct Answer

    A gratuitous or bare promise, devoid of any consideration. 

    Incorrect Answer
    Explanation:

    A nudum pactum in Latin literally means 'Bare or Naked Promise.' In common law, it refers to a promise that is not legally enforceable for want of consideration. An example of a nudum pactum would be an offer to sell something without a corresponding offer of value in exchange. While the offer may bind a person morally, since the offer has not been created with any consideration, it is gratuitous and treated as a unilateral contract. The offer is therefore revocable at any time by the offeror before acceptance by the offeree.


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