Which of the following best depicts Nudum Pactum?a)A fraudulent promiseb)A promisor who gives an illegal considerationc)A person who is not eligible to give compensationd)A promise without considerationCorrect answer is option 'D'. Can you explain this answer?

Question

Which of the following best depicts Nudum Pactum?a)A fraudulent promiseb)A promisor who gives an illegal considerationc)A person who is not eligible to give compensationd)A promise without considerationCorrect answer is option 'D'. Can you explain this answer?

Answer

Consideration is a benefit to each party that has entered into a contract. A nudum pactum may be in verbal or written form. These agreements have no legal action, since they are naked contracts, i.e. without consideration. This means that the agreements do not fall within the specific categories of agreements that can provoke legal action. However, an agreement may create a modification of or exception to an obligation already in effect.

Answer

Explanation of the answer:

Nudum Pactum:
A nudum pactum is a promise that lacks consideration, meaning there is no exchange of value between the parties involved. In other words, it is a promise that is not supported by anything of value in return.

Significance of Consideration:
Consideration is essential for a contract to be legally binding. It ensures that both parties are giving up something of value in exchange for the promise made. Without consideration, a promise may not be enforceable in a court of law.

Examples of Nudum Pactum:
- A promise to give a gift without any exchange of value.
- A promise made out of moral obligation rather than a legal obligation.
- A promise based on past actions that do not involve a future exchange of value.

Importance of Consideration:
Consideration serves as the foundation of a contract, demonstrating that both parties have willingly entered into an agreement with a mutual understanding of the terms. It also helps prevent fraudulent or one-sided promises from being enforced.

Conclusion:
In the context of the question, a promise without consideration best depicts nudum pactum. This concept highlights the importance of having a valid exchange of value to support promises made in a contractual agreement.

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