CONTRACTS - GENERAL PROVISIONS Flashcards
ART. 1305
A contract is a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.
ART. 1305
The contracting parties may establish such stipulations, clauses, terms and conditions as they may deem convenient, provided they are not contrary to law, morals, good customs, public order, or public policy.
ART. 1307
Innominate contracts shall be regulated by the stipulation of the parties, by the provisions of Titles I and II of this Book, by the rules regulating the most analogous nominate contracts, and the by the customs of the place.
ART. 1308
The contracts must bind bond contracting parties, its validity and compliance cannot be left to the will of one of them.
ART. 1309
The determination may be left to a third person, whose decision shall not be binding until it has been made known to both contracting parties.
ART. 1310
The determination shall not be obligatory if it is evidently inequitable. In such case, the courts shall determine what is equitable under the circumstances.
ART. 1311
Contracts take effect only between the parties, their assigns and heirs, except in case where the rights and obligations arising from the contract are not transmissible by their nature, by stipulation or by provision of law. The heir is not liable beyond the value of the property he received from the decedent.
If a contract should contain some stipulation in favor of a third person, he may demand its fulfillment provided he communicated his acceptance to the obligor before its revocation. A mere incidental benefit or interest of a person is not sufficient. The contracting parties must have clearly and deliberately conferred a favor upon a third person.
ART. 1312
In contracts creating real rights, third persons who come into possession of the object of the contract are bound thereby, subject to the provisions of Mortgage Law and Land Registration laws.
ART. 1313
Creditors are protected in cases of contracts intended to defraud them.
ART. 1314
Any third person who induces another to violate his contract shall be liable for damages to the other contracting party.
ART. 1315
Contracts are perfected by mere consent and from that moment the parties are bound not only to the fulfillment of what has been expressly stipulated but also to all the consequences which, according to their nature may be in keeping with good faith, usage and law.
ART. 1316
Real contracts, such as deposit, pledge or commodatum, are not perfected until the delivery of the object of the obligation.
ART. 1317
No one may contract in the name of another without being authorized by the latter, or unless he has by law a right to represent him.
A contract entered into in the name of another without authority or legal representation, or has acted beyond his powers, shall be unenforceable, unless it is ratified, expressly or impliedly, by the person on whose behalf it has been executed, before it is revoked by the other contracting party.
