Formation Contracts_Validity Conditions Flashcards
- What is legal capacity?
o The ability of a natural or legal person to have rights, obligations, and to enter into legal acts.
- What are the two aspects of legal capacity?
o Abstract capacity (general ability to have rights) and concrete capacity (ability to exercise rights).
- What does assent mean in contracts?
o It is the expression of intent to conclude a juridical act.
- What are the conditions for valid assent?
o Existence, unambiguous expression, mental competence, genuine intent, definiteness, and certainty.
- Can silence constitute assent?
o Generally no, but there are exceptions like renewal of a rental contract
- What is an essential error in a contract?
o A serious misunderstanding regarding the nature, identity, or qualities of the subject matter.
- What is nonessential error?
o A minor mistake that does not affect the validity of the contract
- What is misrepresentation?
o Deceitfully causing a party to enter into a contract under false pretenses.
- What is duress in contract law?
o Coercion or threats used to force someone into a contract.
- What is inequality of bargaining power?
o A significant imbalance in the parties’ obligations and rights within a contract.
- What is required for formal contracts in Romania?
o Written agreements or authentic notarial acts for certain contracts.
- What is the effect of formal invalidity?
o The contract is considered void or unenforceable.
- What are liquidated damages?
o Predetermined compensation for breach of contract.
- How does French law handle mistake-based contract avoidance?
o Mistakes about essential qualities or the contracting party can void a contract
- What is the role of a notarial act?
o Ensures parties understand the legal effects and removes doubts or errors.
