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Oblicon > Contracts - Finals > Flashcards

Contracts - Finals Flashcards

1
Q

is a source of obligation

A

Contract

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2
Q

is a binding agreement enforceable through the
courts, it must be lawful and conforms with all requisites to be
valid.

A

Contract

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3
Q

not enforceable in
court are mere moral or social agreements, it may not have
all the elements of a contract

A

agreement

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4
Q

is the legal tie or relation that exists after a contract is executed

A

obligation

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5
Q

No contract if there is no obligation but there can be an
obligation even without a contract since there are other
sources of obligation, i.e law, j

A

-

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6
Q

All contracts are agreements but not all agreements are
contracts.

A

-

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7
Q

Dependence to another contract
- Preparatory (agency, partnership) – entered as a means to
an end (step 1 pa lang ang pag pasok sa contrata and after pagpasok
sa kontrata may panibagong contrata)
- Acessory (mortgage, guaranty) – dependent upon another
contract it secures or guarantees for its existence and validity
(dependent on the principal contract. pag wala yung principal contract,
the accessory can’t stand on it self, accessory follows the principal.)
- Principal (sale, lease) – not dependednt on another for
existence or validity but is indispensable for the existence of
another contract (main contract, can exist without the accessory.
pwede kahit walang accessory because the accessory follows the
principal.)

A
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7
Q

Dependence to another contract

A
  • Preparatory (agency, partnership)
  • Acessory (mortgage, guaranty)
  • Principal (sale, lease)
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8
Q

– entered as a means to
an end

A

Preparatory (agency, partnership)

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9
Q

– dependent upon another
contract it secures or guarantees for its existence and validity

A

Acessory (mortgage, guaranty)

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10
Q

– not dependednt on another for
existence or validity but is indispensable for the existence of
another contract

A

Principal (sale, lease)

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11
Q

Dependence of part to other parts
– when each part of the contract is dependent upon other parts for complete satisfaction

A
  • Indivisible
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12
Q

Dependence of part to other parts- - - one part may be satisfied completely without the

A

divisible

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13
Q

– complies with all legal requirements and limitations

A

Valid contract

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14
Q

– constitutional right but there is no absolute right
for anyone to enter into any kind of contract

A

Freedom to contract

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15
Q

– deemed imposed on all contracts

A

Police power

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16
Q
  • Classification of contracts according to name or designation:
A

● Nominate
● Innominate

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17
Q

– has specific name or designation in law – lease, sale

A

Nominate

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18
Q

– has no specific name or designation

A

Innominate

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19
Q

I give that you may give – now barter or exchange

A

do ut des

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20
Q

I give that you may do

A

do ut facias

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21
Q

I do that you may give

A

facto ut des

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22
Q

I do that you may do

A

facto ut facias

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23
Q

enforceable against the parties
involved – meeting of the minds

A

Mutuality of contracts

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24
Q

“buyer beware”

A

Caveat emptor

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25
Q

Stipulation in their favor

A

stipulation pour autrui

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26
Q
  • Contracts according to perfection:
A

● Consensual – perfected upon consent
● Real – perfected upon delivery –
● Solemn – requires compliance with certain formalities

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27
Q

– perfected upon consent

A

● Consensual

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28
Q

perfected upon delivery

A

● Real

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29
Q

– requires compliance with certain formalities

A

● Solemn

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30
Q
  • Stages in the life of a contract:
    1. Preparation or negotiation - no agreement yet
    2. Perfection or birth – there is already an agreement or meeting of the
    minds
    3. Consummation or termination – parties have performed their
    obligations
A
  1. Preparation or negotiation - no agreement yet
  2. Perfection or birth – there is already an agreement or meeting of the
    minds
  3. Consummation or termination – parties have performed their
    obligations
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31
Q

– there is already an agreement or meeting of the
minds

A

Perfection or birth

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32
Q
  • no agreement yet
A

Preparation or negotiation

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33
Q

– parties have performed their
obligations

A

Consummation or termination

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34
Q

– contracts entered into without knowledge
and consent; not binding

A

Unauthorized contracts

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35
Q

Essential requisites of contracts

A

Consent, Object, Cause

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36
Q

Classes of elements of a contracts

A

Essential – without which a contract will not be valid, a.k.a.
requisites
● Common – present in all contract – consent, object, cause
● Special – peculiar to certain contracts

  1. Natural – presumed to exist in a contract unless expressly
    stipulated – warranties
  2. Accidental – particular stipulations – period, interest,
    penalty, conditions
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37
Q

agreement of the will upon the object and terms of the
contract

A

Consent –

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38
Q

– proposal made a one (offeror) to another (offeree), expressing
willingness to enter into a contract
Must be certain and definite

A

offer

39
Q

– offeree’s manifestation of assent to the offer, without
acceptance, there can be no meeting of the minds clear, absolute,
unconditional, unqualified, identical to the offer

A

Acceptance

40
Q

– extension of the principal, authorized must be duly

A

Agent

41
Q

– giving a person for a consideration a certain period
to accept the offer

A

option contract

42
Q

– period within which the offeree must accept

A

option period

43
Q

– money paid in consideration of the option

A
  • option money
44
Q

– when a contract is entered into by a person who
is incapable of giving consent thereto
- Valid until annulled by a proper action in court
- May be ratified

A

Voidable contract

45
Q

Persons incapacitated to give consent:

A
  • Unemancipated minor – those who have not yet reachedthe age of majority
  • Insane or demented – insanity must exist at the time of contracting
  • Deaf-mutes (deaf and dumb) – may contract if they knew how to write
  • Lucid interval – temporary period of sanity; proof must be shown
  • State of drunkenness or hypnotic spell – considered as a state of
    temporary insanity
  • Persons suffering from the accessory penalty of civil interdiction
  • Hospitalized lepers
  • Prodigals (spendfrifts)
  • Deaf and dumb who are unable to read and write
  • Those of unsound mind even if
  • Those who by reason of age, disease, weak mind and
    other similar cases, cannot without outside aid take care
    of themselves and manage their properties
46
Q

causes that vitiate consent or renders it defective
making the contract voidable:

A

Vices of consent –

● Error or mistake (Article 331)
● Violence or force (Article 1335)
● Intimidation or threat or duress
● Undue influence (Article 1337)
● Fraud or deceit (Article 1338)

47
Q

false notion of a thing or a fact material to the
contract

A

Mistake or error

48
Q

had the party known the mistake, he
would not have given his consent.

A

Substantial mistake of fact

49
Q

only one of the parties is mistaken

A

Unilateral mistake

50
Q

both parties are in error

A

Bilateral mistake

51
Q

– if it is just as a simple mathematical error, it
may be corrected; if it is a substantial error, it can be aground for the
rescission of the contract

A

Errors in computation

52
Q

ignorance of some provision of law or erroneous
interpretation or conclusion

A

Mistake of law

53
Q

employment of physical force
- Serious or irresistible

A

Violence or force –

54
Q

– influence of a kind that so overpowers the mind of
a party as to effectively prevent a person from acting understandingly
and voluntarily

A

Undue influence

55
Q

– committed by one party prior to or at the time of the
celebration of the contract to secure the consent of the other party,
without which the other person would not have agreed.

A

Causal fraud

56
Q

How is causal fraud committed?

A
  • Insidious words or machinations – misrepresentation in words
    or actions
57
Q

– failure or neglect to communicate or disclose
a material fact

A

Fraud by concealment

58
Q

– ground for annulment, may give rise to damages

A

Causal

59
Q

– party guilty thereof is liable for damages

A

Incidental

60
Q

– act of deliberately deceiving others, by
feigning or pretending by agreement

A

Simulation of a contract

61
Q

subject matter thereof
* It is, in actuality, the obligation created – thing to be delivered, service
to be rendered

A

Object of a contract

62
Q
  • Requisites of a service as object of a contract:
A
  • Within the commerce of men
  • Not legally or physically impossible
  • Must be determinate or determinable without need of a new
    contract
63
Q

important reason or purpose that the contracting parties
have when they entered into the contract
- Something bargained for in exchange for a legally enforceable
promise

A

Cause (causa)

64
Q

reading in cause

A

What happens is a contract lacks a cause? - it confers no right and
produces no legal effect (kasi essential element ang cause)

What happens if the cause is inadequate? - not a ground for relief
(what if mayroon cause pero inadequate/kulang? – not a ground for relier, kasi
mayrooncpa ring cause pero kulang nga lang would be determined na kulang nga
yung cause? WALA kasi ang contracting parties ang nakakaalam ng cause na yan.
)

What happens when there is failure of cause? - not a ground to void
the contract (may cause kayo nung una pero may reason kayo pero nawala –
still not ground to void the contract or declare as illegal yung contract)
Illegality of cause – cause is unlawful or illegal – null and void (it is as
if walang contract)

Falsity of cause – contract is void (itinago yung cause, wala naman talagang
cause, may fraud na kasama kaya the contract is void)

Simulated cause – show that there is a hidden or true cause (may tinago
din, pero may totoong cause, kailangan lang ipakita kung ano yung totoong cause
na yun para masabing valid yung contract)

65
Q

– damage caused because the price is unjust or inadequate

A

Lesion

66
Q

manner in which the contract is executed
or manifested
- Oral or in writing; express or implied; public or private
instrument if it is in writing

A

Form of contract

67
Q

entered into whatever
form provided that all essential requisites are present (

A

Informal or common or simple

68
Q

– required by law to be in a certain form
to be effective

A
  • Formal or solemn
69
Q

– only one party is mistaken in good
faith, he/she has the right to ask for reformation of the
instrument

A

Not mutual mistake

70
Q

– mistake of fact common to both parties which causes
the failure of the instrument to express the true intention of the parties

A

Mutual mistake

71
Q

Reformation of Instruments

A

Requisites:
- There was a meeting of the minds
- Written instrument does not reflect/express the true
agreement or intention of the parties
- Failure to express is due to fraud, accident, mistake,
inequitable conduct
- Facts upon which relief by way of reformation of the
instrument is sought are put in issue by the pleadings

  • Clear and convincing evidence of FAMI
72
Q

FAMI

A

fraud, accident, mistake,
inequitable conduct

73
Q

person is permitted by law to control to a certain degree the
disposition of his estate which will take effect after his/her death

A

Wills

74
Q

– to ascertain the intent of the contracting parties

A
  • Interpretation
75
Q

Words versus intent

A
  • intent
76
Q

– open to different interpretations or meaning
* Should be interpreted to give meaning to the intent of the partie

A

Ambiguous contracts

77
Q

– valid contract because all essential requisites of a
contract is present

A

Rescissible

78
Q

– valid until annulled unless ratified o Defect is caused by
vice of consent

A

Voidable

79
Q

– cannot be enforced or be sued upon unless
ratified o Not really void but not really valid

A

Unenforceable

80
Q

– absolutely null and void
o Not subject to ratification

A

Void/inexistent

81
Q

– remedy granted by law for reparation of damages
(restoration of things as they were before the execution of the contract

A
  • Rescision
82
Q

– not enough properties to meet obligations

A
  • Insolvency
83
Q

– donation of all properties without
reserving sufficient property to cover existing debts prior to the
donation

A

✓ Alienation by gratuitous title

84
Q

– when there has been judgment

A

✓Alienation by onerous title

85
Q

mutual obligation of restitution (return of what has been
received)
✓ Object with its fruits
✓ Price with legal interest

A

Rescission

86
Q

– voluntary adoption or approval of some defective or
unauthorized act or contract; shows intention to be bound

A

Ratification

87
Q

✓ Cleans the contract of its defects from its birth
is a UNILATERAL act

A

Ratification

88
Q

Both parties are incapacitated –

A

UNENFORCEABLE

89
Q

✓ Ratification by the parent/guardian of one of the parties –

A

VOIDABLE

90
Q

Ratification by the parent/guardian of both parties –

A

VALID –
validated

91
Q

produce no effect at all because of certain defects

A
  • Void contracts
92
Q

– lacks one or some or all of the essential
elements

A

Inexistent contracts

93
Q

– issued to regulate excessively high interest rates on
loan

A

Usury law

94
Q

– statute fixing the maximum price of any article or
commodity ✓ Standard retail price

A

Ceiling law

Oblicon (3 decks)

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