Contract Law Quiz: Validity and Enforcement
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Questions and Answers

What happens if the form for the validity of a contract is not observed?

  • The contract can be amended without consequences.
  • The contract is rendered void and has no effect. (correct)
  • The contract remains valid but unenforceable.
  • The contract is enforceable but subject to penalties.

    • In which scenario is a contract not allowed to be enforced despite being valid?

  • When it is a rescissible contract.
  • When it is a voidable contract.
  • When it does not comply with the required form for enforceability. (correct)
  • When it is a void and inexistent contract.

    • Which type of contract can be rescinded for causing damages to a party?

  • Unenforceable contract.
  • Rescissible contract. (correct)
  • Voidable contract.
  • Void and inexistent contract.

    • What does rescission achieve in the context of defective contracts?

    <p>It abrogates the contract from the beginning.</p> Signup and view all the answers

    What is the requirement of a public document in relation to defective contracts?

    <p>It serves only for convenience and not for validity.</p> Signup and view all the answers

    Which type of contracts is defined as those that are valid but can be voided at the discretion of one party?

    <p>Voidable contracts.</p> Signup and view all the answers

    What is required to classify a contract as unenforceable?

    <p>It must lack necessary legal formalities.</p> Signup and view all the answers

    What criterion differentiates a void contract from a voidable contract?

    <p>Void contracts cannot ever be valid.</p> Signup and view all the answers

    What type of contract does not produce legal effects because it is deemed inexistent?

    <p>Void contract.</p> Signup and view all the answers

    Which aspect is NOT a purpose of the prescribed form for contracts?

    <p>To allow easy amendments to existing contract terms.</p> Signup and view all the answers

    What is a characteristic of rescissible contracts?

    <p>They remain effective until a rescission action is taken.</p> Signup and view all the answers

    In what situation can a contract be annulled?

    <p>When there is a mistake affecting consent.</p> Signup and view all the answers

    Who is typically considered a ward under the law?

    <p>A child protected by a guardian.</p> Signup and view all the answers

    Which of the following statements about voidable contracts is correct?

    <p>They can be annulled based on one party's discretion.</p> Signup and view all the answers

    What does it mean when there is no meeting of the minds in a contract?

    <p>There is a discrepancy in mutual consent between parties.</p> Signup and view all the answers

    How does a written instrument affect the validity of a contract?

    <p>It serves as evidence of consent among the parties.</p> Signup and view all the answers

    Which of the following best describes a legally effective contract?

    <p>It remains binding until annulled or declared void.</p> Signup and view all the answers

    Which of the following scenarios describes an annulment situation?

    <p>A contract signed by an intoxicated person.</p> Signup and view all the answers

    What is the essential reason for a contract referred to as?

    <p>Cause</p> Signup and view all the answers

    What is the fundamental principle that governs the interpretation of contracts?

    <p>The intention of the parties shall be accorded primordial consideration.</p> Signup and view all the answers

    Which of the following best defines 'motive' in the context of contracts?

    <p>The particular reason of a contracting party that does not affect the other party.</p> Signup and view all the answers

    In contract interpretation, what is crucial to ascertain?

    <p>The express terms of their agreement.</p> Signup and view all the answers

    What articles pertain to the form of contracts?

    <p>Art. 1356 - 1358</p> Signup and view all the answers

    Which of the following statements about 'cause' and 'motive' is true?

    <p>Cause serves as the essential reason for the contract.</p> Signup and view all the answers

    Which statement best summarizes the significance of interpretation in contract law?

    <p>Interpretation resolves disputes arising from unclear contract terms.</p> Signup and view all the answers

    In the context of contracts, what does the term 'intention' refer to?

    <p>The expressed terms and agreements of the parties.</p> Signup and view all the answers

    What are the necessary requisites for a contract to exist?

    <p>Consent, Object, and Cause</p> Signup and view all the answers

    Which parties are considered incapacitated to give consent under the law?

    <p>Minors, Insane persons, and Deaf-mutes</p> Signup and view all the answers

    What characterizes the essential elements of a contract?

    <p>Must exist in all legally binding agreements</p> Signup and view all the answers

    What are the vices of consent described in the content?

    <p>Fraud, Intimidation, Violence, Mistake</p> Signup and view all the answers

    What must a mistake be to invalidate consent?

    <p>Real and unavoidable</p> Signup and view all the answers

    Which type of mistake refers to misunderstanding the implications of a contract?

    <p>Mistake of Fact</p> Signup and view all the answers

    What is necessary for consent to be considered valid?

    <p>It must be spontaneous and free</p> Signup and view all the answers

    What does the term 'lucid interval' refer to in the context of contracts?

    <p>A period when an insane person regains sanity</p> Signup and view all the answers

    What type of consent is rendered voidable?

    <p>Consent influenced by F.I.V.U.M</p> Signup and view all the answers

    Which elements are classified as accidental elements in a contract?

    <p>Elements provided for by the parties</p> Signup and view all the answers

    What type of fraud can lead to voiding a contract?

    <p>Insidious words or machinations</p> Signup and view all the answers

    Which of the following is NOT a natural element of contracts?

    <p>Interest rates</p> Signup and view all the answers

    What is the primary cause of a contract's sustenance?

    <p>Cause of the obligation</p> Signup and view all the answers

    What distinguishes a void contract from a voidable contract?

    <p>A void contract has no force and effect from the beginning.</p> Signup and view all the answers

    What is the requirement for mutual restitution in rescission proceedings?

    <p>Both parties must remain in their original status.</p> Signup and view all the answers

    Which of the following is NOT a requisite for valid ratification?

    <p>The defect in the contract must still be present.</p> Signup and view all the answers

    What timeframe applies for the action for annulment mentioned in the context?

    <p>4 years from the discovery of the error.</p> Signup and view all the answers

    What does the concept of insolvency entail?

    <p>A state where liabilities exceed assets.</p> Signup and view all the answers

    What is the effect of ratification on the annulment of a voidable contract?

    <p>The contract is rendered valid from its inception.</p> Signup and view all the answers

    Under what circumstances may rescission not take place?

    <p>If the contract has been approved by the courts.</p> Signup and view all the answers

    What action must a prejudiced creditor take prior to seeking rescission?

    <p>Exhaust all remedies to collect due claims.</p> Signup and view all the answers

    What is a requirement for a contract to be deemed voidable?

    <p>It must be created with fraud or undue influence.</p> Signup and view all the answers

    What should ratification involve to be effective?

    <p>Knowledge of the reason for the contract's voidability.</p> Signup and view all the answers

    What does undue influence refer to in contract law?

    <p>Manipulating a party by exploiting a position of power.</p> Signup and view all the answers

    Which article outlines the requirements for ratification?

    <p>Article 1383</p> Signup and view all the answers

    When must an action related to undue influence be initiated?

    <p>Within 4 years of discovering the influence.</p> Signup and view all the answers

    What characterizes a mistake of fact in contract law?

    <p>It occurs when one or both parties believe a fact exists that does not.</p> Signup and view all the answers

    Which of the following best explains the term 'dolo causante'?

    <p>Fraud that induces a party to enter a contract by serious misrepresentation.</p> Signup and view all the answers

    What is a requirement for a mistake of law to be actionable?

    <p>The mistake must be mutual between all parties involved.</p> Signup and view all the answers

    Which statement correctly describes 'dolo incidente'?

    <p>It is fraud that is incidental and does not affect the core agreement.</p> Signup and view all the answers

    What is a necessary condition for violence to affect a contract's validity?

    <p>The force must be serious or irresistible.</p> Signup and view all the answers

    What constitutes 'intimidation' in contract law?

    <p>The use of threats to induce consent.</p> Signup and view all the answers

    Which of the following best defines undue influence?

    <p>When one party uses superior power to influence another's will.</p> Signup and view all the answers

    In contract law, what is required for a general understanding of the cause of a contract?

    <p>It represents the essential reason for which parties enter into the contract.</p> Signup and view all the answers

    Which statement is accurate concerning 'absolute simulation'?

    <p>It involves a contract that has no substance or genuine intention.</p> Signup and view all the answers

    What is meant by 'relative simulation' in contracts?

    <p>A simulated contract only concerning some terms of the agreement.</p> Signup and view all the answers

    What must parties have regarding future inheritance for a contract to be valid?

    <p>The inheritance must not yet be opened.</p> Signup and view all the answers

    What type of objects can be the subject of contracts?

    <p>Things that are not contrary to law or public policy.</p> Signup and view all the answers

    What is a fundamental effect of a mistake of law on a contract?

    <p>It has no effect unless mutual.</p> Signup and view all the answers

    What is the implication of a mutual mistake of fact in a contract?

    <p>The parties may rescind the contract based on the mistake.</p> Signup and view all the answers

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