The Latin term “Nudum pactum” means “bare agreement” or “nude contract” in English. It refers to an agreement that does not have consideration, which is a crucial element of a legally binding contract. In contract law, consideration is something valuable that is exchanged between the parties involved in a contract. A contract without consideration may be unenforceable in many legal jurisdictions because it lacks the essential element of mutual exchange or benefit that is necessary for a valid contract.