Chapter 11: The Law of Contract

Question 1

Art 1321 CC – Contract

Answer 1

A contract is an agreement between parties (≠unilateral) to constitute, regulate or extinguish a legal relationship having economic content.

Contracts generate obligations or transfer ownership.

Question 2

Agreement (definition)

Answer 2

An agreement is a “concurrence of consents” (expression of wills).

Question 3

Contractual autonomy (definition)

Answer 3

Contractual autonomy is the principle that everyone is the best judge for their own interests and can choose which contracts to enter into. The legal system takes this into consideration as it promotes the free-market and protects the interests of the weaker parties.

This implies that economic contracts cannot be enforced upon another person. Hence, a gift is a unilateral act unless it is accepted.

Question 4

Typical vs atypical contracts

Answer 4

Typical contracts are regulated by the legal system, while atypical are not previously provided for.