CONTRACTS Flashcards
Stages of contract
- Negotiation (Preparation/ Conception/ Generacion)
- Perfection (Birth)
- Consummation (Death/ Termination)
Elements of a contract
Essential
Natural
Accidental
Essential Elements (definition)
Those without which there can be no contract
Essential elements
- Consent
- Object certain
- Cause or consideration
Accidental contracts
exist only when the parties expressly provide for them for the purpose of limiting or modifying the normal effects of the contract
Characteristics of contracts
- Consensuality
- Autonomy
- Mutuality
- Obligatoriness
- Relativity
Contract of Adhesion
there is already a prepared form containing the stipulations desired by one party whereby the latter only asks the other party to agree to them if he wants to enter the contract
Validity of Contract of Adhesion
Valid.
Consensuality
Perfected by mere consent
Autonomy of contracts
Freedom or liberty to contract. Free to stipulate
Pactum Leonina
stipulation which excludes one or more partners from any share in the profits or losses [VOID]
Pactum Commissorium
stipulation where the creditor appropriates the things given by way of pledge or mortgage or dispose to them [NULL AND VOID]
Pactum de non alienado
stipulation forbidding the owner from alienating the immovable mortgaged [VOID]
Escalation Clause
where one increases/ decreases compensation of one of the parties
Relativity (or Privity)
contract takes effect or is binding only between the parties, their assigns and heirs, which are referred to as privies
