Introduction to Contracts (Lesson 5.1) Flashcards
How is a contract defined under Quebec law?
A contract is an agreement of wills, a binding agreement between two or more persons (individuals or legal entities) to perform an undertaking.
What does the law presume about parties in a contract?
That both parties will act in good faith, as required by law.
What happens if a party fails to respect the contract?
The injured party may claim damages for breach of contract under CCQ 1458.
What is an onerous contract?
A contract where both parties have obligations (e.g., a sale: one pays, one delivers).
What is a gratuitous contract?
A contract where **only one party **has an obligation, such as giving a gift without expecting anything in return.
What is a contract of instantaneous performance?
A contract where both parties can fulfill their obligations immediately, like a cash sale.
What is a contract of successive performance?
A contract where obligations are carried out over time, such as a lease agreement.
Are oral contracts valid?
Yes, oral/verbal contracts are enforceable, but they are harder to prove than written ones.
Why are written contracts preferable?
They provide documented evidence of the agreement, making it easier to prove terms in court.
When is a contract required to be in writing?
When mandated by law, such as in real estate transactions or mortgages, which require specific forms (e.g., notarial form).
