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obligations Flashcards

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1
Q

what is a tolling agreement

A

contract by which parties involved in a dispute consent to extend the relevant prescriptive period

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2
Q

what are the limitations on a tolling agreement

A
  1. can only be made after the prescriptive period has commenced but before the period has accrued
  2. successive agreements are allowed, but any single agreement may not extend prescription for more than one year
  3. Must be express and in writing
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3
Q

conventional obligations

what are the basic elements of a contract

A
  1. capacity
  2. consent (offer + acceptance)
  3. cause
  4. object
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4
Q

conventional obligations

what’s the general as to capacity

A

all persons have contractual capacity except (1) unemancipated minors; (2) interdicts; and (3) persons deprived of reason at the time of contracting

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5
Q

conventional obligations

when are contracts made by unemancipated minors enforceable

A
  1. the other person reasonably relied on the minor’s representation of majority (argument can be made here)
  2. the contract is made for something related to the minor’s business or necessary for his support and education

have seen this asked twice

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6
Q

conventional obligations

what’s the penalty of a contract entered into by a party that lacked contractual capacity

A

relative nullity and can be rescinded only by that party or their representative

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7
Q

conventional obligations

how can offer and acceptance be made

A

orally, in writing, or by action/inaction manifesting consent

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8
Q

conventional obligations

what formalities are the parties subject to for offer and acceptance

A

there are no formalities, unless the law or parties require
* if certain form imposed by law for contract, then same form is required for offer and acceptance
* if certain form imposed by the parties, presumed that the parties do not intend to be bound until the K is so executed

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9
Q

conventional obligations

when can a revocable offer be revoked

A

before acceptance; revocation must be received before offer is accepted

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10
Q

conventional obligations

when is an offer irrevocable

A

if the offeror specifies a period of time to accept; if the offeror does not specify a time, but intends to give offeree a period within which to accept, irrevocable for a reasonable amount of time

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11
Q

conventional obligations

when is acceptance effective for a revocable offer

A

upon transmission, so long as it’s made in a manner and medium suggested by the offer or in a reasonable manner, which is one used customarily in similar transactions at a place and time the offer is received

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12
Q

conventional obligations

when is acceptance effective for an irrevocable offer

A

upon receipt, which occurs when the acceptance comes into th eofferor’s possession

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13
Q

conventional obligations

if acceptance is nonconforming (not in accord with the terms of the original offer), what is the acceptance deemed

A

counteroffer

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14
Q

conventional obligations

what is required for cause

A
  1. lawful cause or
  2. detrimental reliance
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15
Q

conventional obligations

what’s the definition of cause

A

why a party binds themselves

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16
Q

conventional obligations

what are the requirements for object

A

parties are free to contract for any object that is lawful, possible, and determined or determinable

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17
Q

conventional obligations

if an object is determinable, who can make that determination

A

third person

18
Q

conventional obligations

what’s a requirements contract

A

the quantity of a contractual object may be determined by the output of one party or the requirements of another; requirements must be measured in good faith –quantity cannot be unreasonably disproportionate to any estimate or prior requirement

19
Q

conventional obligations

what is the effect of error on consent

A

consent can be vitiated by a party’s error, but not every error vitiates consent

20
Q

conventional obligations

when will unilateral error vitiate consent

A
  1. it concerns a cause without which the obligation would not have been incurred; and
  2. that cause was known or should have been known to the other party

however, even if these requirements are met, if the error should have been discovered, the court may refuse to grant relief

21
Q

conventional obligations

what is the relief for unilateral error

A

party may generally obtain rescission; damages can be awarded instead in the instacne that the contract should be performed

22
Q

conventional obligations

when does a claim for rescission based on error prescribe

A

claim on account of relative nullity – thus, 5 years

23
Q

conventional obligations

how is fraud defined

A

misrepresentation or suppression of the truth used to gain an unjust advantage for one party or to cause inconvenience to the other

24
Q

conventional obligations

when does fraud not vitiate consent

A

when a party could have ascertained the truth without difficulty/special skill

25
Q

conventional obligations

what does error by fraud require

A
  1. a circumstance that substantially influenced the consent of the party in error and
  2. fraudulent intent
26
Q

conventional obligations

how can fraud result from silence or inaction

A

there must be a duty disclose (and thus failure to do so)

27
Q

conventional obligations

what does rescission on the basis of fraud result in

A

damages and attorneys fees

28
Q

conventional obligations

what is the effect of failure to perform a conventional obligation

A

obligor is generally liable for damages caused by his failure to perform a conventional obligation

29
Q

conventional obligations

what are the rights of the obligee if the obligor breaches their contract

A
  1. damages
  2. specific performance
  3. dissolution
30
Q

conventional obligations

how are compensatory damages measured

A
  1. loss sustained
  2. profit deprived (must be proved to reasonable certainty)

court maintains discretion

31
Q

conventional obligations –compensatory damages

what is a good faith obligor required to pay

A

liable for foreseeable expenses at the time the contract was made

32
Q

conventional obligations –compensatory damages

what is a bad faith obligor required to pay

A

bad faith is defined as the intentional and malicious failure to perform

liable for all damages – foreseeable or not, that are a direct consequence of his failure to perform

33
Q

conventional obligations

when are pecuniary damages available (first scenario)

A

contract intended to gratify, through its nature, a pecuniary interest and because of the circumstances surrounding the formation or nonperformance of the contract, the obligor knew or should’ve known that his failure to perform would cause that kind of loss

34
Q

conventional obligations

second scenario when pecuniary damages are available

A

regardless of the nature of the contract, the obligor intended through his failure, to aggieve the feelings of the obligee

35
Q

conventional obligations

what’s required for pecuniary damages

A

bad faith alone is not enough to subject an obligor to liability for nonpecuniary damages –it must be shown that the obligor intended to cause the obligee losses of a pecuniary nature, including embarrassment or humiliation

36
Q

conventional obligations

when are attorneys fees available

A

only when the contract or law provides

37
Q

conventional obligations– special forms

what is a loan for consumption

A

lender delivers fungible and consumable things to the borrower, who is permitted to consume the loaned things and replace them with things of the same kind and quality

38
Q

conventional obligations –special forms

for a loan for consumption, where must the borrower fulfill his obligation

A

must deliver things of same kind and quality at the time and place agreed upon, and upon failure to do so, is liable for interest from written demand

39
Q

conventional obligations – special forms

what is a compromise

A

one or more parties make concessions to settle a dispute or uncertainty concerning an obligation or another legal relationship; settles only those differences that the parties clearly intend to settle

40
Q

conventional obligations –special forms

what are the form requirements for a compromise

A
  1. in writing; or
  2. recited in open court and capable of being transcribed from the record of the proceeding
41
Q

conventional obligations –special forms

what is accord and satisfication in relation to a compromise

A

compromise is also made when claimant of a disputed or unliquidated claim accepts a payment tendered by the other with the clearly expressed written condition that acceptance of the payment will extinguish the obligation

42
Q

conventional obligations – special forms

what are the effects of compromise

A
  1. can be rescinded for vices of consent, but not error or lesion
  2. precludes the parties from bringing a subsequent action based on the matter that was compromised
  3. doesn’t effect a novation
  4. if compromise was not performed, the other party may seek to enforce the compromise or dissolve it and enforce original claim

bar prepppeppep (38 decks)

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