Contracts (Chapter 1) Flashcards
It is the meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service
Contracts
When can a contract be perfected by one party only?
When the party represent different interest/ identity/ role
Contracts according to name
Nominate and Innominate contracts
Contracts according to perfection
Consensual and Real Contracts
Contracts according to cause
Onerous, Remuneratory or remunerative, and Gratuitous
Contracts according to form
Informal/ SImple and FOrmal/ Solemn
Contracts according to Person obligated
Unilateral and Bilateral
Contracts according to risks
Commutative and Aleatory
Contracts according to liability
Unilateral and Bilateral
Contracts according to status
Executory and Executed
Contracts according to dependence to another contract
Preparatory, Accessory, and principal
Contracts according to dependence of part of contract to other contract
Divisible and Indivisible
agreement where the obligations and benefits of both parties are certain and equivalent. Both parties know in advance what they are exchanging, and the performance of each side is predictable.
Commutative Contract
an agreement where the performance of one or both parties depends on an uncertain future event. The obligations of the parties are not equal, and the outcome often involves an element of risk or chance.
Aleatory Contract
Contract that set up terms for future contracts
Preparatory Contracts
When it does not depend on other contracts
Principal Contracts
When it depends on another contract is secures or guarantees for its existence. Example is mortgage or guaranty
Accessory Contract
when each part of the contract is dependent upon the other parts for completion
Indivisible Contract
When one part of the contract may be satisfactorily performed independently of the other parts
Divisible Contract
refers to the authority of the government to regulate behavior and enforce laws that promote the public health, safety, morals, and general welfare of society.
police power
Rule of conduct, just, obligatory, promulgated by legitimate authority and of common observance and benefits
Law
Deals with norms of goods and right conduct evolved in an community
Morals
consists of habits and practices which through long usage have been followed and enforced by society or some part of it as binding rules of conduct
Customs
refers to the general peace, safety, and stability of a society, maintained through laws, regulations, and practices that ensure the smooth functioning of society and prevent chaos, crime, or disruption.
Public order
Refers to the principles, laws, and actions that a government or governing body adopts to address public issues and societal challenges. It involves the formulation and implementation of strategies to promote social, economic, and political objectives, which may include areas like education, healthcare, environment, or the economy.
Public policy
Contracts with no specific name is _____ while contract with specific name is _________
Innominate
Nominate
I give what you may give
I give what you may do
I do what you may do
I do what you may give
do ut des
do ut facias
facto ut facias
facto ut des
Essential Element of a contract
Consent
Object
Cause
Rules governing innominate contracts
- Stipulations of Parties
2.Provisions of Obligations and Contracts - Rules Governing the most analogous contract
- Customs of the place
Where only one person represent the two parties to the contract( when one party represent different interest)
Auto-Contract
Where only one party drafted the contracts ( such as insurance)
Contract of adhesion
Can the determination of performance of a contract be made by a third person?
Yes. Art 1309
Who is responsible for determination of performance if the contracting parties oppose the one made by the third person
The court. Art 1310
When is the general rule that rights of a party in a contract transmissible to heirs and their assignees not arise
when by:
their stipulation
nature
provisions of law
Stipulation in the contract clearly and deliberately confers a favor upon a third person
Stipulation pour autrui
Contracts perfected by mere consent
Consensual Contract
Consent perfected by the delivery of the thing subject matter of the contract
Real Contract
Contracts which requires compliance with certain formalities prescribed by law( must follow legal procedure)
Solemn Contract
Stages in the Life of a Contract
- Preparation or Negotiation
- Perfection or Birth
- Consummation or Termination
Elements that are presumed to exist in a contract unless the contrary of stipulation
Natural Element
Elements that refer to particular stipulation of party
Accidental Elements
