Contracts

Question 1

What is a contract?

Answer 1

Agreement between two or more parties by which obligations are created, modified, or extinguished.

Question 2

What are the kinds of contracts?

Answer 2

1. Unilateral contract where one party to the contract incurs an obligation and the other party does not reciprocate.
2. Bilateral contract where both parties to the contract have incurred obligations and the reason each party bound themselves is to recived the prformance promised by the party.

There is an obligor and obligee.

Nature of the reciprocal obligations is correlative.

Question 3

What is an onerous contract?

Answer 3

When the obligor binds himself for the benefit for himself.

Question 4

What is a gratuitous contract?

Answer 4

When tan obligor binds himself for the benefit of the obligee.

Question 5

What is a principal contract?

Answer 5

K whose obligation is secured by an accessory contact.

Question 6

What is a accessory contract?

Answer 6

When the K was entered into to provide security for the performance of another obligation.

Question 7

What is the difference between a nominate and inominate K?

Answer 7

Nominate has a special obligation while inominate does not.

Question 8

What is a commutative contract?

Answer 8

Where the performance by one party is correlative to the performance by the other party.

Question 9

What is an aleatory contract?

Answer 9

where the performance or extent of performance of any party to the contract depends on an uncertain event (e.g., an insurance contract)

Question 10

Who lacks contractual capacity?

Answer 10

1. Unemancipated minors
2. Inderdicts

3;. Persons deprived of reason.

Question 11

When are contracts enforceable by minors?

Answer 11

1. Other party reasonably relied on the minor’s representation of majority [La. Civ. Code Ann. art. 1924];

b. The contract is made for something related to the minor’s business or necessary for his support or education [La.
Civ. Code Ann. art. 1923]; or

c. The contract falls within the special rules for minors with respect to gratuitous contracts.

Question 12

When are contacts enfoceable by noninterdicts deprived of reason?

Answer 12

1. Other party knew or should have known.

Interdict may rescind a gratuitous contract without showing the other party’s constructive or actual knowledge.

2. After death by a noninterdicted person deprived of reason only when:

(i) contract is gratuitous,

(ii) the contract evidences lack of understanding,

(iii) the contract is made within 30 days of
death, or

(iv) an application for interdiction was filed before death.