Chapter 1 Flashcards
A contract 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.
Article 1305
(When is a contract perfected?)
Contracts are perfected by mere consent.
Article 1315
Essential Requisites of Contracts
There is no contract unless CONSENT, SUBJECT MATTER, & CAUSE OF THE OBLIGATION occur.
Article 1318
(Can the obligations be inherited?)
Contracts take effect only between the parties, their assigns and heirs.
Article 1311
(CONSENT)
Consent if manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract.
Article 1319
Acceptance made by the letter or telegram does not bind the offer except from the time it cameto his knowledge. An acceptance may be express or implied.
Article 1320
An offer becomes ineffective upon the death, civil interdiction, insanity, or insolvency, of either party before acceptance is conveyed.
Article 1323
A contract where consent is given through mistake, violence, intimidation, undue influence, or fraud is voidable.
Article 1330
In order that mistake may invalidate consent, it should refer to the substance of the thing which is the object of the contract, or to tgose conditions which have principally moved on or both parties to enter into the contract.
Article 1331
When one of the parties is unable to read, or if the contract is in a language not understood by him, and mistake or fraud is alleged, the person enforcing the contract must show that the terms thereof have been fully explained to the former.
Article 1332
A consent is voidable when:
There is violence when in order ro wrest consent, serious or irresistible force is employed.
Article 1335
An obligation should be annulled when:
Violence or intimidation shall anull the obligation, although it may have been employed by a 3rd person who did not take part in the contract.
Article 1336
There is undue influence when a person takes improper advantage of his power over the will of another, depriving the latter of a reasonable freedom of choice.
Article 1337
When a contract is laced with FRAUD:
There is fraud when, through insidious words of machinations of one of the contracting parties, the other is induced to enter into a contract which, without them, he would not have agreed to.
Article 1338
There is FRAUD when:
Failure to disclose facts, when there is a duty to reveal them.
Article 1339
There is FRAUD when:
The usual exaggerations in trade, when the other party had an opportunity to know the facts, are not in themselves fraudulent.
Article 1340
There is FRAUD when:
A mere expression of an opinion does not signify fraud, unless made by an expert and the other party has relied on the former’s special knowledge.
Article 1341
There is FRAUD when:
Misinterpretation by a 3rd person does not vitiate consent, unless such misinterpretation has created substantial mistake and the same is mutual.
Article 1342
There’s FRAUD when:
Misinterpretation made in good faith is not fraudulent but may constitute error.
Article 1343
There’s FRAUD when:
In order that fraud may take a contract voidable, it should be serious and should not have been employed by both contracting parties.
Article 1344
There’ss FRAUD when:
Simulation of a contract may be absolute or relative.
Article 1345
There’s FRAUD when:
An absolutely simulated or fictitious contract is void.
Article 1346
