Contracts 1 Flashcards
TRUE OR FALSE
A contract is a meeting of the minds between two contracting parties which takes place when an offer made by one is accepted as such by the other.
TRUE
TRUE OR FALSE
A contract cannot be given effect if it is contrary to law because law is superior to contract.
TRUE
TRUE OR FALSE
The impossibility of anticipating all forms of agreement on one hand, and the progress of man’s sociological and economic relationships on the other justify the
provision on innominate contracts.
TRUE
TRUE OR FALSE
When a law requires that a contract be in some form to be valid, the compliance therewith is not necessary for its perfection.
FALSE
TRUE OR FALSE
Prescription or the lapse of time can cure the defects of unauthorized contracts.
FALSE
TRUE OR FALSE
Natural elements are those without which no contract can validly exist.
FALSE
TRUE OR FALSE
Natural elements are those presumed to exist in certain contracts unless the contrary is expressly stipulated as such by the parties.
TRUE
TRUE OR FALSE
Cause is one of the common elements of a contract.
TRUE
TRUE OR FALSE
The offer must be certain and definite and it is necessary that the acceptance will be identical with the offer for there to be a contract.
TRUE
TRUE OR FALSE
Earnest money is the money paid or promised to be paid in consideration for the option.
FALSE
TRUE OR FALSE
If a business advertisement is complete in all the particulars necessary in a contract, it may amount to a definite offer.
TRUE
TRUE OR FALSE
Mistake as to the quantity or amount does not vitiate consent but only gives rise to its correction.
TRUE
TRUE OR FALSE
Mistake of law does not invalidate consent because ignorance of the law excuses no one from compliance therewith.
TRUE
TRUE OR FALSE
The threat of a court action as a means to demand compliance of an obligation vitiates consent.
FALSE
TRUE OR FALSE
The object in a contract must be determinate or determinable even if it would need a new contract between the contracting parties.
FALSE
TRUE OR FALSE
Absence or want of cause means that there is a valid cause in a contract but it is still determinable.
FALSE
TRUE OR FALSE
Falsity of cause means that the contract states a valid cause but such statement is not true.
TRUE
TRUE OR FALSE
In order to be valid, the power to administer property must be in writing and notarized as such by a notary public.
FALSE
TRUE OR FALSE
There can be no reformation of instruments in last wills and testaments.
TRUE
TRUE OR FALSE
If the words appear to be contrary to the evident intention of the parties, the stipulations in the contract will be given effect.
FALSE
TRUE OR FALSE
If a word is susceptible of two or more meanings, it is understood in that sense which is most in keeping with the wishes of the creditor.
FALSE
TRUE OR FALSE
Natural obligations give a right of action to compel the compliance thereof.
FALSE
TRUE OR FALSE
When a right to sue upon a civil obligation has lapsed as such by extinctive prescription, the obligor who voluntarily performs the contract cannot recover what he has delivered as well as the value of the service he has rendered.
TRUE
TRUE OR FALSE
Civil obligations, being based on equity, do not grant a right of action to enforce
compliance, but after voluntary fulfilment by the obligor, they authorize the
retention of what has been delivered or rendered as such by reason thereof.
FALSE
TRUE OR FALSE
An unenforceable contract is null and void.
FALSE
Clover sold a parcel of land to Alexandra. It is not disputed that the reasonable
value of the land is P100,000. However, the contract of sale states that the
purchase price is P10,000.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
VALID
Piolo, 35 years old, sold a parcel of land to Santino, 9 years old.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
VOIDABLE
Edward, guardian of Seth, was authorized as such by the court to sell Seth’s 2
parcels of land for P200,000 each. Edward sold one piece to Bella for only P100,000.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
RESCISSIBLE
Upin sold his yellow car to Ipin for P100,000. All the while, Ipin thought that he
is buying the silver car of Upin.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
VOID
As of today, May 18, 2022, Zack verbally entered into a contract with Cody
wherein Cody will rent the house of Zack starting June of 2023.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
UNENFORCEABLE
Bailey verbally entered into a contract with London where Bailey will rent London’s pink car for 10 months.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
VALID
Candace, 16 years old, entered into a contract with Jeremy, also 16 years old, whereby Candace will sell to Jeremy her new bicycle for P5,000.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
UNENFORCEABLE
Zack verbally sold to Cody a small piece of real property for P350.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
UNENFORCEABLE
Mia sold to Bailey 2 pieces of smuggled pink bicycles for P10,000 each. Bailey
only paid P1,000 for each and London on her part delivered only 4 bicycle
wheels.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
VOID
Kim Possible verbally sold to Ron Stoppable her laser flashlight for P550.
a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible
UNENFORCEABLE
