Podcast
Questions and Answers
What is the purpose of reformation in equity?
What is the purpose of reformation in equity?
- To validate a void agreement
- To nullify the instrument
- To impose new conditions on the instrument
- To amend the instrument to reflect the true intention of the parties (correct)
In which of the following types of instruments is reformation not allowed?
In which of the following types of instruments is reformation not allowed?
- Agreements with void stipulations
- Wills (correct)
- Simple donations inter vivos with conditions
- Contracts with unclear intentions
When can the literal meaning of stipulations in a contract control?
When can the literal meaning of stipulations in a contract control?
- When it reflects the true intention of the parties (correct)
- Always, as it's a strict legal requirement
- When it aligns with common practice
- When it leads to unjust results
Under what circumstances can there be reformation of an instrument?
Under what circumstances can there be reformation of an instrument?
Which class of defective contracts can be attacked directly only, and not collaterally?
Which class of defective contracts can be attacked directly only, and not collaterally?
What kind of defect do voidable contracts possess?
What kind of defect do voidable contracts possess?
What is the fundamental distinction between an action for the reformation of an instrument and an action for the annulment of a contract?
What is the fundamental distinction between an action for the reformation of an instrument and an action for the annulment of a contract?
Which type of defective contract is susceptible of convalidation only by prescription, and not by ratification?
Which type of defective contract is susceptible of convalidation only by prescription, and not by ratification?
On what principle is the remedy of reformation of an instrument based?
On what principle is the remedy of reformation of an instrument based?
In which class of defective contracts are the defects related to the vitiation of consent or the legal incapacity of one of the contracting parties?
In which class of defective contracts are the defects related to the vitiation of consent or the legal incapacity of one of the contracting parties?
Why must the power to reform an instrument be exercised sparingly and with great caution?
Why must the power to reform an instrument be exercised sparingly and with great caution?
How does the reformation of an instrument affect the parol evidence rule?
How does the reformation of an instrument affect the parol evidence rule?
