18 Questions
What is the characteristic of a contract that involves the binds of both parties?
Mutuality
What is the concept that ensures contracting parties fulfill their obligations in good faith?
Consensuality
Which characteristic of a contract allows parties to establish their own terms and conditions?
Autonomy
What is the effect of a contract on parties involved?
It binds both parties and their assigns and heirs.
Which characteristic of a contract ensures that obligations arising from the contract are not transmissible?
Relativity
What is the characteristic of a contract that perfects a real contract, such as deposit or pledge?
Delivery of the object of the obligation
What is the implication of the 'force of law' in a contract?
It implies that the agreement is legally enforceable in court.
What is the characteristic of a contract that is described by the phrase 'in good faith'?
It is a fair and honest intention in the performance of the contract.
What is the relationship between a contract and an obligation?
A contract is a source of obligation, but not all obligations arise from contracts.
What is the characteristic of a contract that is described by the phrase 'meeting of the minds'?
It is an agreement that is made between two parties with respect to each other.
What is the type of obligation that arises from a contract?
Conventional obligation.
What is the implication of autonomy in a contract?
The parties are free to make their own agreements and are not bound by the contract.
What is the default designation of a contract when it has no specific name or designation in law?
Innominate contract
What type of contract is perfected by mere consent and the delivery of the object?
Real contract
What is the purpose of an onerous contract?
The performance of an obligation by one party as the other party performs or has performed its own obligation
What type of contract is characterized by its formality and compliance with legal requirements?
Solemn contract
What is the purpose of a gratuitous contract?
Mere liberality or generosity
What is the characteristic of a consensual contract?
Is perfected by mere consent
Test your knowledge of the fundamental principles of contracts, including obligatory, autonomy, and mutuality. Learn about the characteristics of contracts and how they are bound by law.
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