Quiz - Finals Flashcards
An agreement is a meeting of the minds but lacks the essential elements of a contract
True
As a general rule, future inheritance cannot be subject of a contract.
True
There is consent when all terms and conditions have been fully accepted without any condition.
True
The consent given by a minor to a contract is considered as valid if it involves basic necessities like food.
True
As a general rule, contracts are perfected by mere consent except when the law provides some form or other additional requirements.
True
As a general rule, when one signs a contract, it is presumed that he/she has full knowledge and understanding of the same.
True
True
Compulsion by a reasonable and well-grounded fear of an evil
intimidation
use of insidious words or machinations to convince the other contracting party
- fraud
.use of serious or irresistible force
- violence
taking improper advantage over the will of the other
violence
*undue influence
If a contract provides that one of the contracting parties will have to predict the exact dates a of all the meteor showers that will occur in 2022, the contract is
*void
Tessa, a deaf-mute, is a graduate of journalism. She was hired by NU Black-Gold publication and she signed an employment contract where her salary was pegged at P20,000.00 per month. The contract entered into by Tessa is?
valid
Fe is an 89-year old widow who was abandoned by all of her children. She was suffering from occasional memory loss. One day, she took a video of herself writing her last will and testament where she disinherited all her children who abandoned her. While she wrote, she De was reading it out loud so that the video recording can capture her voice. The document (last will and testament) prepared by Juliet is
valid
What could be the reason for your answer in #13?
- Valid because was of sound mind when she prepared the document
Contracts entered into by an insane person during lucid interval
valid
contracts entered into by a guardian where the ward suffers more than 1/4 lesion
rescissible
Contracts entered into in a state of drunkenness
voidable
Contracts entered into by a deaf-mute who knows how to read
valid
Contracts entered into to defraud creditors
rescissible
Contracts entered into where one of the parties is incapable of giving consent
voidable
Contracts entered into at the point of a gun
voidable
Contracts entered into due to mistake
voidable
Ratified contracts
valid
Contracts entered into between a deaf mute college graduate and a minor
voidable
Remedy under the law for reparation of damages
rescission
When one has to return what he/she has received
RESTITUTION
Acceptance despite the defect
RATIFICATION
generally, what is the prescriptive period to assail the validity of a contract?
4 YEARS
A voidable contract can either be annulled or
RATIFIED
In interpreting contracts, the primary consideration is the wording used in the written instrument that embodies the meeting of the minds.
FALSE
For voidable contracts, both the contracting parties must agree to the ratification.
FALSE
When the instrument is clear, either one of the contracting parties can request for the interpretation of the instrument.
FALSE
Concealment of a mistake is a form of fraud that will warrant the reformation of an instrument.
TRUE
Reformation is the solution where there is no meeting of the mind.
FALSE
