Law on Contracts Flashcards
Void auto contracts
sale of property of a person under guardianship where the guardian is the buyer
lease contract concerning the property belonging to an estate where the lessee is the executor
Acceptance of an offer takes effect from the time the offer new or has knowledge of the acceptance
acceptance of the offer will take effect once it is manifested by the offeree
cognition theory; manifestation theory
An offer becomes ineffective before acceptance when DCII
death, civil interdiction, insolvency, insanity
Can an option agreement be withdrawn
yes unless founded upon a consideration which becomes now an option contract
If incapacity pertains to juridical capacity, the contract is _______
void
Those who have absolute incapacity (MIDD)
unemancipated minors
insane or demented persons except during lucid interval
deaf mute so do not know how to write
drunk or hypnotized
Those who are incompetent to consent under the rules of court who may be placed under guardianship (CLPDUA)
civil interdiction
hospitalized lepers
prodigal
deaf and dumb
unsound mind
aged or weak mind
Prescriptive period for voidable contracts
4 years
are the sale of future inheritance, hereditary rights, and vain hope void
yes no yes
Is the action for reformation incompatible with action for enforcement
yes
What are the contracts that cannot be reformed (DWV)
simple donation inter vivos with no condition
last will and testament
real agreement is void
Real contracts (DPCL)
deposit, pledge, commodatum, loan or mutuum
Formal contracts DrDp5ICRp
donation of real property
donation of personal property which exceeds 5000
interest
sale of large cattle
real property contribution in a partnership
Statute of frauds 1GM500ALsC
terms not to be performed within one year
guarantee or surety of debt of another
agreement made in consideration of marriage other than a mutual promise to marry
sale of goods at a price not less than 500; memorandum entry of the inventory on their action
lease of more than one year; sale of real property or interest therein
representation as to the credit of a third person
Contracts which requires formalities for convenience RHcPR
transactions involving real property
cession repudiation or renunciation of hereditary rights or those of conjugal partnership of gains
power to administer property or other powers which has for its object should appear in a public document or should prejudice a third person
session of actions or rights
A contract of adhesion containing a waiver is void
yes
Exemptions to the relativity of contracts Bmcs RMP
third persons bound by the contract
- real property mortgage
- Collective agreements like collective bargaining agreement
- Contracts that create status like marriage
rescissible contracts
malicious interference
pour atrui
Action of the creditor to rescind the contract entered into by the debtor to defraud him
action pauliana
Action of a creditor to so on a contract entered into by his debtor whenever authorized by law
accion directa (sue the obligor of the obligor)
The principle that would apply in a gratuitous contract and onerous contract when interpreting
least transmission of rights
greatest reciprocity of interest
Priority when interpreting innominate contract (SOAC)
stipulation
oblicon
analogous contracts
customs
do ut des
to give and to give
If the doubts or cast of on the principal object of the contract in such a way that it cannot be the one but may have been the intention or will of the parties, the contract shall be
null and void
Rescissible contracts GwRaFLO
when wards suffer lesion by more than one-fourth of the value of the thing from contracts entered into by their guardians
representation of absentees; lesion
in fraud of creditors
things under litigation if they have been entered into by the defendant without the knowledge and approval of the litigants or of competent judicial authority
all authors declared by law
