Contracts

Question 1

Is the meeting of the minds between two persons whereby one binds himself, with respect to the other, to give something or render some service

Answer 1

Contracts

Question 2

Stages of Contract

The first stage where the parties begin the inital negotiation and bargaining for the formation of the contract ending at the moment og agreement of the parties

Answer 2

Conception or Generation

Question 3

Stages of Contract

The parties had a meeting of minds as to the object, cause or consideration and other terms and conditions of the contract

Answer 3

Perfection or Birth

Question 4

Stages of Contract

The last stage which consists in their perfomance or fulfilment by the aprties of their obligations under the term of the perfected contract

Answer 4

Consummation or Fulfillment

Question 5

Characteristics of a Contract

Answer 5

• Autonomy
• Mutuality
• Obligatory
• Relativity
• Consensually

Question 6

Relativity of Contracts

Contacts only take effect between…

Answer 6

The parties or their assigned and heirs

Question 7

Relativity of Contracts

A contract can only obligate…

Answer 7

the parties who entered into it, or their successor who assumed their personalities, and that, concomitantly, a contract can neither favor nor prejudice third persons

Question 8

Relativity of Contracts

This does not apply on rights and obligations that…

Answer 8

are not transmissible by their nature or by stipulation or by provision of law

Question 9

Stipulation pour autrui

Answer 9

Benefits clearly and deliberately conferred by parties to a contract upon a third person and which stipulation is merely part of a contract entered into by the parties, neither of whom acted as agents of the third person and which favor can be demanded by the third person if duly accepted by him before it could be revoked

stipulation in favor of a third person

Question 10

Mutuality of Contracts

Answer 10

• The contract must bind both contracting parties
• Its validity or compliance cannot be left to the will of one of them
• Any obligation arising from contract has the force of law between the parties
• There must be mutuality between the parties based on their eseential equality

Question 11

Auntonomy of Contracts

Answer 11

• The freedom of the parties to contract and to stipulate provided the stipulations are not contrary to law, morals, good customs, public order or public policy
• Freedom of the parties to create or establish stipulation, clauses, terms, and conditions as they may deem convenient provided the stipulations are not contrary to law, morals,. etc

Question 12

Contracts are perfected by mere [BLANK], and from that moment the parties are bound not only to the fulfillment of what has been expressly stipulated by also to all the consequences which, according to their nature, may be in keep with good faith, usage and law

Answer 12

Consensual

Question 13

Essential Elements

Answer 13

• Consent
• Object certain or subject matter
• Cause or consideration

Question 14

Requisites of Consent

Answer 14

• Legal capacity
• Manifestation of the confromity og the contracting parties
• Parties’ conformity to the object, cause, terms and conditions
• Conformity must be real and not simulated or fictitious

Question 15

Object

1-6

All things or services may be the object of contracts

Answer 15

• It is the subject matter of the contract. It can be a thing, right or service arising from a contract
• The object must be determinate as to the kind
• It must be existing of the potentiality to exist subsequent to the contract
• It must be licit
• It must be within the commerce of man
• It must be transmissible

Question 16

Is essential to more proximate purpose which moves the contracting parties to enter into the contract.

Answer 16

Cause

It is immediate and direct which justifies the creation of an obligation through the will of the contracting parties