CONTRACT STAGES Flashcards
1
Q
3 contract stages
A
- generation
- perfection
- consummation
2
Q
It is the preliminary stage or process for the formation of the contract. It includes the bargaining of the subject of obligation and consideration.
A
Generation
3
Q
The birth of contract
A
Perfection
4
Q
It is the fulfillment of the purpose for which the contract was constituted.
A
Consummation
