naked contract Meaning in the Cambridge English Dictionary
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Meaning of “naked contract” in the English Dictionary

"naked contract" in Business English

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naked contractnoun [C]

uk   us  
(also nude contract, or formal nudum pactum) LAW an informal ​agreement that is not considered ​legal in a ​court of ​law: A naked ​contract is not ​enforceable.
STOCK MARKET an ​agreement for options (= the ​right to ​buyshares, etc. in the future at a ​fixedprice) for which the ​seller does not have the ​relatedshares: There are ​risks associated with writing naked ​contracts that one is unable to ​deliver.
(Definition of naked contract from the Cambridge Business English Dictionary © Cambridge University Press)
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