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LA BAR > Code III - Contracts > Flashcards

Code III - Contracts Flashcards

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1
Q

Onerous Contract

A

reason to bound is for benefit to self

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2
Q

Gratuitous Contract

A

reason to bound is to benefit obligee

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3
Q

Principal Contract

A

contract whose obligation is secured by an accessory contract

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4
Q

Accessory Contract

A

provides security for the performance of another obligation

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5
Q

Nominate Contracts

A

is given special designation

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6
Q

Innominate Contracts

A

has no special designation

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7
Q

Commutative Contract

A

where the performance by one party is correlative to the performance by another party

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8
Q

Aleatory Contract

A

performance or extent of performance of any party to contract depends on an UNCERTAIN event

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9
Q

Requirements for Valid Contract

A
  1. Capacity
  2. Consent (through offer and acceptance)
  3. Cause
  4. Object
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10
Q

Capacity

A

All persons have capacity EXCEPT:
1. unemancipated minors
2. interdicts
3. persons deprived of reason

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11
Q

Consent

A

Evidenced by offer and acceptance

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12
Q

Offer

A

personal to offeree

revocation of offer must be received PRIOR to acceptance of offer

if specified period of time for acceptance, irrevocable during that time

Revocable offer = expires if not accepted within a reasonable time

Irrevocable offer = expires if not accepted during period which irrevocable

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13
Q

Acceptance

A

revocable offer = effective when offeree transmits acceptance (mailbox rule)

irrevocable offer = effective when offer receives it (possession)

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14
Q

Acceptance by silence

A

must reasonably lead the offeror to believe acceptance

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15
Q

Nonconforming acceptance

A

acceptance not in accord with terms of the offer is a COUNTEROFFER

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16
Q

Offer of Rewards to the Public

A

binding on offeror regardless of whether the person who performs the requested act knows of the offer

can be revoked ONLY by same or equal means of offer

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17
Q

Contracts of Adhesion

A

standard contract prepared by a party of superior bargaining power for adherence or rejection by weaker party

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18
Q

Cause

A

must be either:
1. a lawful cause; OR
2. Detrimental reliance

Need NOT be expressed

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19
Q

Simulation

A

When parties true cause is not expressed

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20
Q

Detrimental Reliance

A
  1. Promisee RELIED on the promise to their detriment
  2. promisor knew or should have known that the promisee would so rely; AND
  3. promisee was reasonable in so relying
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21
Q

Object

A

lawful, possible, and determined or determinable

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22
Q

Determined or Determinable Object

A

must be determined AT LEAST AS TO KIND but the quantity need only be determinable

CAN be left to discretion of third party; if they fail court may do so

Future things OKAY

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23
Q

Promesse de Porte-Fort

A

contract the object of which is an act done by a third party

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24
Q

Stipulation Pour Autrie

A

stipulate benefit for a third person (third-party beneficiary)

Once 3p manifests intent to accept the benefit it is irrevocable

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25
Q

Vices of Consent

A
  1. Error
  2. Fraud
  3. Duress
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26
Q

Error

A

either party may obtain rescission

If one party is in error error will vitiate consent if:
1. concerns a cause without which the obligation would not have been incurred
2. cause was known or should have been known to the other party

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27
Q

Fraud

A

misrepresentation or suppression of the truth made with the intent to obtain an unjust advantage or cause a loss or inconvenience to the other party

DOES NOT vitiate consent when a party could have ascertained the truth w/o difficulty or special skill UNLESS a relation of confidence exists

Need not be but-for-cause - substantially influenced consent

Fraud through silence

Fraud by 3p vitiates consent if other party knew or should have known of the fraud

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28
Q

Duress

A

cause a reasonable fear of unjust and considerable injury to a person, property, or reputation

29
Q

Interpretative Rules

A

each provision should be interpreted in light of the other provisions

if cant resolve interpret against drafter

interpreted against obligee and for obligor

30
Q

Null Contract

A

requirements for formation are not met

Absolute or relative

31
Q

Absolutely Null

A

violates rule of public order

CANNOT BE CONFIRMED

Action to annul does not prescribe

32
Q

Relatively Null

A

violates rule intended to protect a private party

can be confirmed

only party rule intended to protect may invoke

prescribed in 5 years

33
Q

Effects of Nullity

A

contract deemed never to have existed

34
Q

Good Faith Requirement

A

Contracts MUST be performed in good faith

failure = greater liability for damages

35
Q

Contractual Breach

A
  1. Nonperformance
  2. defective performance
  3. delay in performance

Aggrieved obligee entitled to pursue SPECIFIC PERFORMANCE or DISSOLUTION

36
Q

Obligor’s Breach - Liability

A

Liable for damages

Specific Performance

37
Q

Measuring damages

A

loss sustained by the obligee AND the profit of which he is deprived

lost profits must be proven to a reasonable certainty (if unable court has discretion)

38
Q

Bad Faith Liability

A

liable for ALL damages that a direct consequence of failure to perform

39
Q

Effect of Obligee’s Actions

A

my NOT recover if:
1. bad faith caused obligor to fail to perform
2. he concealed facts that he knew or should have known would cause a failure at the time the contract was formed

Obligee has a duty to mitigate damages

40
Q

Nonpecuniary Damages

A

(emotional distress) MAY be recovered IF:

  1. contract intended to gratify a nonpecuniary interest
  2. obligor knew or should have known that his failure to perform would cause this kind of loss

May also recover if through failure INTENDED to hurt or aggrieve the obligee’s feelings

41
Q

Modification of Liability

A

may address matter of damages in contract

MAY NOT exclude or limit liability for intentional or gross fault that causes damage to the other party

MAY NOT exclude or limit liability for physical injury

42
Q

Stipulated damages

A

obligee may demand EITHER specific performance OR stipulated damages NOT both

UNLESS stipulated damages are purely delay damages

43
Q

Delay Damages (Moratory)

A

owed from the time an obligor is put in default

44
Q

Dissolution

A

obligor fails to perform obligee may request judicial or regard the contract dissolved

45
Q

Extrajudicial Dissolution

A

may regard contract dissolved upon the obligor’s failure to perform IF there is an express agreement between the parties

46
Q

Dissolution after Notice

A

obligor fails to perform, obligee MAY give notice to perform within certain time, or dissolution

time must be reasonable

47
Q

Dissolution w/o Notice

A

regard contract dissolved if it is evident the obligor will not perform or if delayed performance would be of no value

48
Q

Judicial Dissolution

A

unless requirements for extrajudicial dissolution are met NO entitlement to judicial dissolution

49
Q

Effects of Dissolution

A

Parties restored to the situation that existed before the contract was made.

If impossible or impractical court may award damages (does not affect prior performance for continuous or periodic performance)

50
Q

Simulation

A

parties agree that a contract does not express their true intent

IF trues intent is expressed in a separate writing (counterletter)

51
Q

Absolute Simulation

A

parties intend the contract will produce NO effects

52
Q

Relative Simulation

A

parties intend that the contract will produce and effect DIFFERENT from the one recited in the contract

53
Q

Effect of Simulations on 3ps

A

absolute or relative MAY

counterletter has NO effect against 3p in good faith

Counterletter on immovable prop follows public record doctrine regarding 3ps

54
Q

Revocatory Actions

A

obligee MAY annul an act or the result of a failure to act of an obligor that causes or increases his insolvency

occurred AFTER the right of the obligee arose

55
Q

Onerous K made by Obligor (revocatory action)

A

Obligee MAY annul if made with a person who knew or should have known that the contract would cause or increase insolvency

56
Q

Gratuitous K made by obligor (revocatory action)

A

may attack whether or not other party knew of potential insolvency

57
Q

K made in course of business (revocatory action)

A

MAY NOT BE ANNULLED

58
Q

Revocatory action time Period

A

1 year from when obligee learned or should have learned of the act BUT MAY NOT be brought after 3 years

59
Q

Oblique Action

A

obligor causes or increases his insolvency by failing to exercise a heritable right

Obligee MAY exercise it UNLESS the right is strictly personal to the obligor

60
Q

Conflict of Law

A

conventional obligations is governed by the law of the state whose policies would be MOST SERIOUSLY IMPAIRED if its law were not applied

61
Q

Valid Form of Contract (conflict of laws)

A

valid as to form if valid with the law of:
1. state of making
2. state of performance
3. common domicile or place of business of the parties
4. substance of the contract

62
Q

Capacity (conflict of law)

A

capable if possess capacity under the law of:
1. state which domiciled
2. state whose law is applicable

63
Q

Deposit

A

contract which depositor delivers a movable thing to the depositary for safekeeping

64
Q

Liability for Losses (deposit)

A

liable for all loss sustained resulting from breach of the standard of care

onerous depositary = bound with diligence and prudence

Gratuitous = depositary is held lower, same care and use as own property

65
Q

Use of Deposited Thing

A

may not use deposited thing without express or implied permission

IF it is consumable it is a loan for consumption

66
Q

Return of Deposited thing

A

depositary is bound to return the thing and all fruits that he received from the deposited thing at agreed upon place

costs of transportation borne by depositor

67
Q

Loan

A

Loan for use = nonconsummable

Loan for Consumption = Consumable (replace with same kinda and quality)

68
Q

Compromise

A

one or more parties make concessions to settle a dispute or uncertainty concerning an obligation or other legal relationship

Settle only differences clearly intended to be settled

69
Q

Accord and Satisfaction (compromise)

A

made when claimant of a disputed or unliquidated claims accepts payment by the other with clearly expressed WRITTEN condition that acceptance of the payment will extinguish the obligation

LA BAR (25 decks)

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