CHAP 8 (contracts)

Question 1

Unenforceable contracts

Answer 1

Those that CANNOT BE ENFORCED or GIVEN EFFECT in a court of law or sued upon by REASON OF CERTAIN DEFECTS provided by law UNTIL AND UNLESS THEY ARE RATIFIED according to law

Question 2

Unauthorized contracts

Answer 2

Entered into in the NAME OF ANOTHER PERSON by one who has been given NO AUTHORITY or LEGAL REPRESENTATION or WHO HAS ACTED BEYOND HIS POWERS

Question 3

Kinds of unenforceable contracts

Answer 3

1. Those entered into in the NAME OF ANOTHER by one without, or acting in excess of, authority
2. Those that DO NOT COMPLY WITH THE STATUTE OF FRAUDS
3. Those where BOTH PARTIES ARE INCAPABLE OF GIVING

Question 4

Agreements within the scope of the Statute of Frauds

Answer 4

1. Agreement not to be performed within one year from the making thereof
2. Promise to answer for the debt, default, or miscarriage of another
3. Agreement in consideration of marriage other than mutual promise to marry

4.Agreement for sale of goods, etc. at price not less than P500

5. Agreement for leasing for a longer period than one year
6. Agreement for the sale of real property or of an interest therein
7. Representation as to the credit of a third person

Question 5

Modes of RATIFICATION under the Statute

Answer 5

1. By failure to object
2. By acceptance of benefits