HO_17

Question 1

Essential elements of a contract

Answer 1

Consent
Subject matter
Consideration

Question 2

Meeting of minds between parties on subject matter and cause of contract; concurrent of offer and acceptance

Answer 2

Consent

Question 3

Persons who cannot give valid consent to a contract

Answer 3

Minors
Insane or demented persons
Illiterate/deaf-mutes who do not know how to read or write
Intoxicated and under hypnotic spell

Question 4

Wat are the object or subject matter of a contract

Answer 4

Within the commerce of man — either existing or in potency
Licit or not contrary to law, good custom
Possible
Determinate
Transmissible

Question 5

the essential or more proximate purpose or reason which the contracting parties have in view at the time of entering into the contract or, as expressed in another case, it is the “why of the contract, the essential reason which moves the contracting
parties to enter into the contract.

Answer 5

Cause or Causa or Consideration