OBLICON-2 Flashcards
The contract must bind both contracting parties; its validity or compliance cannot be left to the will of one of them.
Art. 1308
a case which is frequent in certain contracts, for in such case neither is the article violated, nor is there any lack of equality of the persons contracting; such as cancellation of a contract due to default or non-payment or failure to do service.
Negative Form of Rescission
The determination of the performance may be left to a third person, whose decision shall not be binding until it has been made known to both contracting parties.
Art. 1309.
The determination shall be obligatory if it is evidently inequitable. In such case, the courts shall decide what is equitable under the circumstances.
Art. 1310
Contracts take effect only between the parties, their assigns and heirs, except in case where the rights and obligations arising from the contracts are not transmissible by their nature, or 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 1311.
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
the Mortgage Law and the Land Registration laws.
Art 1312
Creditors are protected in cases of contracts intended to defraud them
Art 1313.
Any third person who induces another to violate his contract shall be liable for damages to the other contracting party.
Art 1314
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 1315.
Real contracts, such as deposit, pledge or commodatum, are not perfected until the delivery of
the object of the obligation.
Art 1316.
