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an agreement not supported by consideration is called
Nudum Pactum
Invalid consideration
Ab intio
Namo dat quod non habet
- Option 1: Nudum Pactum
- A Latin term meaning "naked promise."
- Refers to an agreement that lacks consideration and hence unenforceable.
- Correct Answer:
- Option 2: Invalid consideration
- Relates to a consideration that the law does not recognize as valid.
- But it assumes the existence of some consideration, just not valid.
- Option 3: Ab Initio
- A Latin term meaning "from the beginning."
- Pertains to contracts void from the start due to illegality or other factors.
- Option 4: Nemo dat quod non habet
- A Latin legal doctrine meaning "no one gives what they do not have."
- Deals primarily with the transfer of title, not consideration.
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