Contract Law: Requisites and Obligations
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Questions and Answers

What is the main reason why an individual does not have absolute right to enter into any kind of contract?

  • Because it is limited by law, morals, customs, and public policy (correct)
  • Because it is a contractual right
  • Because it is a statutory right
  • Because it is a liberty guaranteed by the constitution

Which of the following is considered a nominate contract?

  • FACTO UT FACIAS contract
  • Commodatum contract (correct)
  • Innominate contract
  • DO UT DES (Barter) contract

What is the primary purpose of public policy in relation to contracts?

  • To promote the common good (correct)
  • To limit the freedom of contract
  • To enforce customs and traditions
  • To ensure public safety

According to Article 1307, what is the basis of governance for innominate contracts?

<p>All of the above (D)</p> Signup and view all the answers

What is the primary characteristic of an innominate contract?

<p>It is a unique agreement that does not fit into a standard category (D)</p> Signup and view all the answers

What is the primary requisite of a contract?

<p>Consent (A)</p> Signup and view all the answers

What is the relation that exists after a contract has been entered?

<p>Legal tie (C)</p> Signup and view all the answers

What is the stage where parties have a meeting of minds and come to an agreement?

<p>Perfection (C)</p> Signup and view all the answers

What is true about contracting parties according to Article 1306?

<p>They have freedom to stipulate as long as it is not contrary to the law (C)</p> Signup and view all the answers

What is true about all contracts?

<p>They all have obligations (B)</p> Signup and view all the answers

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