Article 1305

Question 1

Art 1305 states that

Answer 1

A contract is a meeting of minds between two persons whereby one binds himself, with respect ot the otehr, to give something or to render some service

Question 2

Meaning of Contract

Art. 1305 gives the definiton of a contract

Answer 2

It lays emphasis on the meeting of minds between 2 contracting parties which takes place when an offer by 1 party is accepted by the other.** (ART. 1319)**

In a contract, 1 or more person binds himself or themselves with respect to another or others, or reciprocally, to the fulfillment of an obligation to give, to do, or to render service or to refrain from doing some particular thing (ART.1156)

Question 3

Number of parties to a contract

There are 2 things when it comes to the number of parties to a contract

What is the 1st

Answer 3

1) In a contract, there must be at least 2 persons or parties, because it is impossible for one to contract with himself.

Question 4

Number of parties to a contract

There are 2 things when it comes to the number of parties to a contract

What is the 2nd

Answer 4

2) A single person may create a contract by himself where he represents distinct interest. (his own and that of another for whom he acts as agent)
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Example: If A (Agent) has been authorized by P to borrow. A may himself be the lender at the current rate of interest.

Question 4

Contract and Obligation distinguished

Contract is one of the sources of obligations. On the other hand Obligation ______________

Answer 4

Is the legal ties or relation itself that exists after a contract has been entered into.

Question 5

Contract and Obligation distinguished

Contract ________________On the other hand ObligationIs the legal ties or relation itself that exists after a contract has been entered into.

Answer 5

Is one of the sources of obligations

Question 6

Contract and Obligation distinguished

There can be no contract if there is no obligation accepted _____________

Answer 6

in return for some benefit to be enjoyed. But an obligation may exist without a contract such as the obligation imposed by law to pay taxes.

Question 7

Contracts and Agreement distinguished

Contracts are binding agreements enforceable _____________

Answer 7

Through legal proceeds in case the other party does not comply with his obligation under the agreement. To be valid and enforaceble, a contract must be lawful (ART 1306) and all the requisites for its validity must be present (ART 1318)

Question 8

Contracts and Agreement distinguished

An agreement is broader than a contract ___________

Answer 8

because the former may not have all the elements of a contract (ART 1318) that create legally enforceable obligations

Question 9

Contracts and Agreement distinguished

So, all contracts are agreements but _________________

Answer 9

not all agreements are contracts