OBLICON M7 Flashcards
FINALS
It is the subject matter of the contract. It can be a thing, right or service arising from a
contract.
Object
rights which are not intransmissible can only be the object of the contract. (NCC, Art.
1347)
Object
Requisites of an object (DELICT)
- Determinate as to a kind (even if not determinate, provided that it is possible to determine the same without the need of a new contract);
- Existing or the potentiality to exist subsequent the contract;
- Must be licit;
- Within the commerce of men;
- Transmissible
The most evident and fundamental requisite in order that a thing, right or service
may be the object of a contract, is that it should be in existence at the moment of the
celebration of the contract, or at least, it can exist subsequently or in the future (De Leon,
2010).
Requisites of an object (DELICT)
GR: All things or services may be the object of contracts.
object of contracts.
EXCEPTIONS:
1. Things outside the commerce of men (NCC, Art. 1347);
2. Intransmissible rights;
3. Future inheritance, except in cases expressly authorized by law;
4. Services which are contrary to law, morals, good customs, public order or public
policy;
5. Impossible things or services; and
6. Objects which are not possible of determination as to their kind.
object of contracts.
the essential reason which moves the parties to enter into the contract It is
the immediate, direct and proximate reason which justifies the creation of an
obligation through the will of the contracting parties.
Cause
Requisites of a cause
It must:
- Exist;
- Be true;
- Be licit
Although the cause is not stated in the contract, it is presumed that it exists and is
lawful unless the debtor proves the contrary. (NCC, art. 1354)
Requisites of a cause
GR: Form is not required in consensual contracts. (Provided, all the essential requisites for
their validity are present.)
Rules on the form of contracts
XPNs: When the law requires a contract be in writing for its:
- Validity (formal contracts);
- Enforceability (under Statute of Frauds); or
- For the convenience of the parties
Rules on the form of contracts
The parties may compel each other to reduce the verbal agreement into writing
(2006 BAR)
Formality
The parties may require to observe the form required for their convenience
Formality
The contracting parties may compel each other to observe the required form once the
contract has been perfected and is enforceable under the statute of frauds.
Formality
The right to demand the execute of the document required under Art.1358 is not
imprescriptible. It is subject to prescription. It must be pursued within the period
prescribed by law which is five (5) years. (Pineda, 2009)
This one of the rights of the creditor.
the right must be exercised once the contract has been perfected, otherwise, the
exercise will be considered as premature.
This one of the rights of the creditor.
if value exceeds 5,000, the donation and acceptance must
both be written (NCC, Art. 748).
Personal Property
Donation must be in a public instrument, specifying therein the property donated
and value of charges which donee must satisfy.
ii. Acceptance must be written, either in the same deed of donation or in a separate
instrument.
iii. If acceptance is in a separate instrument, the donor shall be notified thereof in
authentic form, and this step shall be noted in both instruments (NCC, Art. 749).
Real property
a. There must be a public instrument regarding the partnership;
b. The inventory of the realty must be made, signed by the parties and attached
to the public instrument (NCC, Art. 1773).
Partnership where real property contributed
- the amount of the principal and interest must be in writing (NCC, Art.
2134).
Antichresis
authority of the agent must be in writing (NCC, Art. 1874).
Agency to sell real property or an interest therein
interest must be stipulated in writing (NCC, Art. 1956).5.
Stipulation to charge interest
Must be in writing, signed by shipper or owner;
b. Supported by valuable consideration other than the service rendered by the
common carrier;
c. Reasonable, just and not contrary to public policy (NCC, Art. 1744).
Stipulation limiting common carrier’s duty of extraordinary diligence to ordinary
diligence:
personal property must be recorded in the Chattel Mortgage Register.
(NCC, Art. 2140).
Chattel mortgage
