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LA Notary > (11) Obligations & Contracts > Flashcards

(11) Obligations & Contracts Flashcards

1
Q

These may rise by operation of law and the absence of the consent of the parties, or they may arise through the voluntary action of the parties.

A

Obligations

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2
Q

Define contract.

A

A contract is an agreement by two or more parties whereby obligations are created, modified, or extinguished.

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3
Q

Define obligation.

A

an obligation is a legal relationship whereby a person, called the obligor, is bound to render a performance in favor of another, called the obligee.

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4
Q

The performance of an obligation may consist of…

A

Giving, doing, or not doing something

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5
Q

Define real obligation.

A

A real obligation is a duty correlative and incidental to a real right.

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6
Q

When an obligations performance may be enforced by a successor of the obligee or against a successor of the obligor

And

Is transferable between living persons

It is what kind of obligation?

A

Heritable meow.

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7
Q

When an obligations performance can be enforced only by the obligee or only against the obligor
And
When the performance requires the special skill or qualification of the obligor
And
When they performance it’s intended for the benefit of the obligee exclusively

The obligation is..

A

Strictly personal

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8
Q

An obligation dependence on an uncertain event

A

Conditional

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9
Q

If the obligation may not be enforced until the uncertain event occurs, the condition is…

A

Suspensive

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10
Q

If the obligation may be immediately enforced but will come to an end when the uncertain event occurs, the condition is…

A

Resolatory

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11
Q

Conditions maybe express or implied in what ways?

A
  1. Expressed in a stipulation
  2. Implied by the law, the nature of the contract, or the intent of the parties baby go bring those to daddy if you want them
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12
Q

A ter m for the performance of an obligation may be… (2)

A

Express or maybe implied by the nature of the contract

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13
Q

When is performance of an obligation not subject to a term due?

A

Immediately

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14
Q

What three types of obligations with multiple persons are there?

A

Several
Joint
Solidary

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15
Q

In addition to voluntary assignment, obligations may be transferred from one person to another by…… Or……

A

Assumption for by subrogation

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16
Q

Obligations may be assumed; the obligor, however, remains liable for…..

A

Performance of the obligation unless the obligee formally releases the original obligor

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17
Q

In order for the assumption to be enforced against the person assuming an obligation, the assumption must be…

A

In writing

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18
Q

Define subrogation

A

Subrogation is the substitution of one person to the rights of another and may be conventional or legal

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19
Q

Conventional segregation occurs…

A

Under contracts of suretyship and with regard to the payment of a claim by an insurer

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20
Q

If a successor pays estate debts with his personal funds and is then entitled to recover the amount he paid from the assets of the estate, this is an example of……

A

Legal subrogation

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21
Q

A party who demands performance of an obligation must prove…

A

The existence of the obligation

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22
Q

A party who asserts that an obligation is null, or that it has been modified or extinguished, must prove…

A

The facts or acts giving rise to the nullity, modification, or extinction.

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23
Q

True or false? When the law requires a contract to be in written form, the contract may be proved by testimony or presumption, unless the written instrument has been destroyed, lost, or stolen.

A

False

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24
Q

In what cases may a contract be proved by testimony or presumption when the law requires a contract to be in written form?

A

When the written instrument has been destroyed, lost, or stolen

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25
Q

A contract is….

A

An agreement that involves at least two person that creates modifies or extinguishes obligation.

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26
Q

True or false? A sale is an example of a contract.

A

True

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27
Q

If Trent agrees to buy Hilltop Resort for the price of $1 million from Fred what obligations are created?

A

Fred is required to deliver Hilltop Resort for the price of $1 million

Trent is required to pay Fred $1 million and take delivery of hilltop resort

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28
Q

In general what is subject to the rules of title 4 of book 3 of the Louisiana civil code?

A

All contracts

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29
Q

Contracts given a special designation such as sale, lease, loan, or insurance are…

A

Nominate

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30
Q

Contracts with no special designations are…

A

Innominate

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31
Q

True or false? Parties are free to contract for any object that is lawful, possible, and determined or determinable.

A

True

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32
Q

True or false? One of the tenants of contract law is that a person cannot derogate from the force of laws made for the preservation of public order for good morals.

A

True

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33
Q

A fundamental principle of the civil law is that contracts are given the status of…

A

Private law

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34
Q

Private law means

A

The parties to a contractor legally bound to act as though there were a law commanding that same performance.

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35
Q

When are third parties affected by private law?

A

When they bind themselves in writing to abide by the contract or as is provided by law

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36
Q

True or false? unless the contract provides to the contrary, rights and obligations are heritable and assignable except is provided by law.

A

True

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37
Q

True or false? Contracts are not bound to be performed in good faith.

A

False. Contracts must be performed in good faith.

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38
Q

this type of contract is created when the party who accepts the obligation of the other does not assume a reciprocal obligation.

A

Unilateral contract

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39
Q

This type of contract is created when the parties obligate themselves reciprocally so that the obligation of each party is correlative to the obligation of the other.

A

Bilateral or synallagmatic.

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40
Q

When each of the parties obtains an advantage in exchange for his obligation a contract is…

A

Onerous contracts

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41
Q

when one party obligates himself towards another for the benefit of the ladder without obtaining any advantage in return a contract is…

A

Gratuitous

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42
Q

what kind of contract is created when the performance of the obligation of each party is correlative to the performance of the other?

A

Commutative contracts

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43
Q

What kind of contract is formed when because of its nature or according to the parties intent the performance of either parties obligation, or the extent of their performance, depends on uncertain event?

A

Aleatory

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44
Q

A contract is _________ when it is made to provide security for the performance of an obligation. Give examples.

A

Accessory

Suretyship, mortgage, pledge, and other types of security agreements

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45
Q

When the secured obligation arises from a contract, either between the same or other parties, that contract is the

A

Principal contract

46
Q

Name the four requirements that exist for the formation of contracts.

A

The 4 C’s

Capacity
consent
certain object
cause

47
Q

The capacity requirement for the formation of contracts is met when…

A

All persons have a capacity to contract

48
Q

True or false? A fully emancipated minor does not have full contractual capacity.

A

False, they DO have full contractual capacity.

49
Q

The contract is worn by the ……. Of the parties established through offer and acceptance.

A

Consent

50
Q

Unless the law prescribes a certain formality for the intended contract, offer and acceptance may be made how?

A

Orally, in writing, or by action or inaction that under the circumstances is clearly indicative of consent

51
Q

In regard to consent, case law provides that the will of the parties must…

A

Unite on the same point aka “meeting of the minds”

52
Q

Consent maybe vitiated by…

A

Error, fraud, or duress

53
Q

Parties are free to contract for any object that is…

A

Lawful, possible, and determined or determinable

54
Q

A contractual object is possible or impossible according to its own nature and not

A

According to the party’s ability to perform it

55
Q

True or false? if the determination of the quantity of the object has been left to the discretion of a third person, the quantity of an object is not determinable.

A

False. It is determinable.

56
Q

if the parties fail to name a person, or if the person named is unable or unwilling to make the determination, the quantity may be determined by who?

A

The court

57
Q

Can future things be the object of a contract?

A

Yes

58
Q

The quantity of a contractual object may be determined by what two things?

A

The output of one party or the requirements of the other

59
Q

Are cause and consideration as used in common law states synonymous?

A

No Mom what

60
Q

An obligation cannot exist without a lawful cause. True or false?

A

True

61
Q

Define cause ahhhhhhh.

A

Cause is the reason why a party obligates himself.

62
Q

When is a party obligated by a promise?

A

when he knew or should have known that the promise would indicate the other party to rely on it to his detriment and the other party was reasonable in so relying

63
Q

The cause of an obligation is…….. when the enforcement of the obligation would produce a result prohibited by law or against public policy.

A

unlawful

64
Q

True or false? An obligation may be valid even though it’s cause is not expressed.

A

True true

65
Q

True or false? when the expression of a cause and a contractual obligation is untrue, the obligation is still effective if a valid cause can be shown.

A

True

66
Q

What is the detrimental reliance doctrine established to prevent?

A

Injustice by barring a party from taking a position contrary to his prior acts, admissions, representations, or silence

67
Q

True or false? The rights and obligations of a contract will pass to the successors of each party.

A

True

68
Q

How can a contract be dissolved?

A

Except for certain legal grounds, a contract can only be dissolved by consent of the parties.

69
Q

Contracts must be performed in…..

A

Good faith

70
Q

When may contracts produce effects for third parties?

A

Only when provided by law

71
Q

True or false? Performance by the obligor does not extinguish the obligation.

A

False. Performance by the obligor extinguishes the obligation.

72
Q

Performance—- May OR may not——–be rendered by a third person, even against the will of the obligee, unless the obligor or the obligee has an interest in performance only by the obligor.

A

May

73
Q

Does performance rendered by a third person affect subrogation?

A

On ly when so provided by law or by agreement.

74
Q

An obligation that may be extinguished by the transfer of a thing is only extinguished when….

A

The thing has been validly transferred to the obligee of performance

75
Q

Generally performance must be rendered to the obligee or to a person authorized by him. However, the performance rendered to an unauthorized person is valid only if…..

A

The obligee ratifies it.

76
Q

In the absence of ratification, a performance rendered to an unauthorized person is valid if the obligee has derived a benefit from it but only…..

A

For the amount of the benefit.

77
Q

When the requirements of its formation have not been met, a contract is…

A

Null and void

78
Q

When a contract violates a role of public order or when the object of a contract is illicit or moral the contract is…

A

Absolutely null.

79
Q

Absolute nullity maybe invoked by any person or maybe declared by the court on its own initiative. True or false?

A

True

80
Q

When a contract violates a rule intended for their protection of private parties as when a party lacks capacity or did not give freaking sent at the time the contact was made the contract is…

A

Relatively null.

81
Q

True or false? A contract that is relatively null May not be confirmed.

A

False relative nullity may be confirmed.

82
Q

When does action for annulment on an absolutely null contract prescribe?

A

It’s a trick! It doesn’t.

83
Q

What is the prescription of action on an annulment that is relatively null?

A

5 years from the time the ground finality either ceased or was discovered

84
Q

May nullity be raised at any time as a defense against an action on the contract even after the action for annulment has prescribed?

A

Yes

85
Q

An absolutely no contract, or a relatively no contract that has been declared no by the court, is deemed to have……

A

Never existed.

86
Q

In the event that a contract is absolutely no or relatively no and declared as such by the court The parties must be restored to…..

A

The situation that existed before the contract was made or if impossible to make restoration and kind it may be made through an award of damages

87
Q

True or false? A performance rendered under a contract that is absolutely no because it’s object or it’s cause is illicit or moral may not be recovered by a party who knew or should have known that the of the defect that makes the contract null.

A

True.

88
Q

Does the nullity of a contract impair the rights acquire through an onerous contract by a third party in good faith?

A

No it does not

89
Q

What is a fortuitous event?

A

A fortuitous event is one that, at the time of the contract was made, could not have been reasonably foreseen.

90
Q

When the entire performance owed by one party has become impossible because of a fortuitous event, the contract is…

A

Dissolved

91
Q

In the event of opportunities event and the dissolution of a contract, may the other party recover any performance that he has already rendered?

A

Yes

92
Q

True or False? When a fortuitous event has made a parties performance impossible in part, the court may reduce the other parties counterperformance proportionally or according to the circumstances, but may not declare the contract dissolved.

A

false

93
Q

Can the obligee seek a judicial dissolution of a contract or, depending on the circumstances, regard the contract dissolved when an obligor fails to perform the obligation?

A

Yes

94
Q

May contract be dissolved when the obligor has rendered a substantial part of the performance and the part not rendered does not substantially impair the interest of the obligee?

A

No it may not be dissolved

95
Q

True or false? upon a party failure to perform, the other may serve him a notice to perform within a certain time, with a warning that, unless performance is rendered within this time, the contract shall be deemed dissolved, as long as the time allowed for that purpose is reasonable according to the circumstances.

A

True

96
Q

What is it called when an obligor is provided a notice to perform subject to the requirements governing the same?

A

Default

97
Q

Can the obligee regard a contract dissolved without any notice to the obligor? If so, when?

A

Yes. When I delayed performance would no longer be a value to the obligee or when it is evident that the obligor will not perform.

98
Q

What is the express dissolution clause?

A

The parties may expressly agree that the contract shall be dissolved for the failure to perform a particular obligation. In that case, the contract is deemed dissolved at the time it provides for or, in the absence of such a provision, at the time the obligee gives notice to the obligor that he avails himself of the dissolution clause.

99
Q

upon the solution of a contract, the party shall be restored to the situation that existed before the contract was made. If restoration and kind is impossible or impractical, the court may….

A

Award damages

100
Q

A contract of unspecified duration may be terminated at the will of either party by….

A

Giving notice, reasonable and time and form, to the other party.

101
Q

What is interpretation of a contract?

A

Interpretation of a contract is the determination of the common intent of the parties.

102
Q

when the words of the contract are clear and explicit and lead to no absurd consequences, no further interpretation may be made in search of the parties intent. True or false?

A

Tr ue True

103
Q

The words of a contract must be given there…

A

Generally prevailing meaning

104
Q

Words of art and technical terms must be given there…..

A

Technical meaning when the contract involves the technical matter

105
Q

Where’s susceptible of different meanings must be interpreted as…..

A

Having the meaning that best conforms to the object of the contract

106
Q

Ineffective/effective a provision susceptible to different meetings must be interpreted with a meaning that renders it….. And not with one that renders it…..

A

Effective

Ineffective

107
Q

Each provision in a contract must be interpreted in light of the other provisions so that…..

A

P each is given the meaning suggested by the contract as a whole

108
Q

although a contract is worded in general terms, it must be interpreted to cover only those things it appears the parties intended to include. True or false?

A

True

109
Q

True or false? A doubtful provision must be interpreted in light of the nature of the contract, equity, usages, the conduct of the parties before and after the formation of the contract, and of other contracts of a like nature between the same parties.

A

True true

110
Q

This is based on the principles that no one is allowed to take unfair advantage of another and that no one is allowed to enrich himself unjustly at this expense of another….

A

Equity

111
Q

In case of doubt that cannot be otherwise resolved, a provision and a contract must be interpreted…..

A

Against the party who furnished its text

112
Q

A contract executed in a standard form of one party must be interpreted, in case of doubt, in favor of the

A

Other party

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