Week 1 Syllabus

Question 1

It is a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.

Answer 1

Contract (1305)

Question 2

What are the Classification of Contracts

Answer 2

Consensual v. Formal, Nominate v. Innominate, Unilateral v. Bilateral, Onerous v. Gratuitous, Express v. Implied, Executed v. Executory

Question 3

It is perfected by mere consent.

Answer 3

Consensual

Question 4

it also called solemn contract or that which is required by law for its efficacy to be in a certain specified form.

Answer 4

Formal

Question 5

It has a specific name or designation law.

Answer 5

Nominate

Question 6

It has no specific name or designation in law.

Answer 6

Innominate

Question 7

When it creates an obligation on the part of only one of the parties.

Answer 7

Unilateral

Question 8

when it gives rise to reciprocal obligations for both parties.

Answer 8

Bilateral

Question 9

Each partner must contribute money, property or industry. A partner can contribute one, some or all of these.

Answer 9

Onerous

Question 10

It means something is done voluntarily or for free, without any expectation of compensation or benefit in return.

Answer 10

Gratuitous

Question 11

it means clearly stated.

Answer 11

Express

Question 12

it means not directly stated but understood to be part of an agreement.

Answer 12

Implied

Question 13

When it has been fully and satisfactorily carried out by both parties.

Answer 13

Executed

Question 14

when it has not yet been completely performed by both parties.

Answer 14

Executory

Question 15

Kinds of Contracts

Answer 15

Valid, Void, Voidable, Rescissible, Unenforceable

Question 16

are those that meet all the legal requisites for the type of agreement involved and the limitations on contractual stipulation and are, therefore, legally binding and enforceable.

Answer 16

Valid

Question 17

are those which, because of certain defects, generally produce no effect at all. They are considered as inexistent from its inception or from the very beginning.

Answer 17

Void

Question 18

also called annullable contracts are those which possess all the essential requisites of a valid contract but one of the parties is incapable of giving consent, or consent is vitiated by mistake, violence, intimidation, undue influence, or fraud.

Answer 18

Voidable

Question 19

are those validly agreed upon because all the essential elements exist and, therefore, legally effective, but in the case established by law, the remedy of rescission is granted in the interest of equity.

Answer 19

Rescissible

Question 20

are 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.

Answer 20

Unenforceable

Question 21

What are the characteristics of Contracts?

Answer 21

Mutuality, Autonomy, Relativity, Consensuality of Contracts, & Obligatory Force

Question 22

It is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must be certain and the acceptance absolute.

Answer 22

Consent

Question 23

Who are the Incapacitated persons that cannot give consent to a contract?

Answer 23

Minors, Insane or demented persons, Deaf-mutes who do not know how to write.

Question 24

What are the vices of consent?

Answer 24

Mistake, Intimidation, Violence, Undue Influence, Fraud

Question 25

Stages of Contracts

Answer 25

i. Preparation or Negotiation ii. Perfection or birth iii. Consummation or termination

Question 26

this includes all the steps taken by the parties leading to the perfection of the contract. At this stage, the parties have not yet arrived at any definite agreement.

Answer 26

Preparation or Negotiation

Question 27

this is when the parties have come to a definite agreement or meeting of the minds regarding the subject matter and cause of the contract, upon concurrence of the essential elements thereof.

Answer 27

Perfection of Birth

Question 28

This is when the parties have performed their respective obligations and the contract may be said to have been fully accomplished or executed, resulting in the extinguishment or termination thereof.

Answer 28

Consummation or Termination

Question 29

it is a false belief about something. It is an error or wrong appreciation of an element of the contract, specifically the cause or the object.

Answer 29

Mistake

Question 30

this refers to physical coercion. The use of physical force and it should be cause of consent.

Answer 30

Violence

Question 31

It can be psychological, moral or physical that results to vitiated consent.

Answer 31

Intimidation

Question 32

it is when a person takes improper advantage of his power over the will of another, deprive him/her of a reasonable freedom of choice. This involves moral coercion, which may be just or lawful.

Answer 32

Undue Influence

Question 33

It refers to all kinds of deception. It includes insidious machinations by one party leading another party to error.

Answer 33

Fraud

Question 34

it takes place when the parties do not intend to be bound at all.

Answer 34

Absolute Simulation

Question 35

It is when the parties conceal their true agreement.

Answer 35

Relative Simulation

Question 36

Essential Requisites of a Contract

Answer 36

Consent, Object, Cause/Consideration

Question 37

it is a subject matter of the contract. All things which are not outside the commerce of men, including future things.

Answer 37

Objects of Contract

Question 38

It is the prestation or promise of a thing or service by the other.

Answer 38

Cause/ Consideration of Contract