Podcast Beta
Questions and Answers
A contract should contain stipulation in favor of a third person if:
In real contracts like deposit and commodatum, when are they perfected?
Who is bound by contracts creating real rights according to the provided text?
What happens when a contract is entered into in the name of another without authorization?
Signup and view all the answers
Which is NOT an essential requisite for a contract as per Article 1318?
Signup and view all the answers
How is consent manifested in a contract according to Article 1319?
Signup and view all the answers
What is a contract according to Article 1305?
Signup and view all the answers
According to Article 1306, what constraints are placed on stipulations in contracts?
Signup and view all the answers
How are innominate contracts governed according to Article 1307?
Signup and view all the answers
What does Article 1308 state about the validity of a contract?
Signup and view all the answers
In what scenarios can the determination of performance be left to a third person according to Article 1309?
Signup and view all the answers
Who do contracts take effect between according to Article 1311?
Signup and view all the answers
Study Notes
Contract Essentials
- A contract is a meeting of minds between two parties where one binds themselves to give something or render a service.
- Parties may establish stipulations, clauses, terms, and conditions as they deem convenient, as long as they are not contrary to law, morals, good customs, public order, or public policy.
Third Party Rights
- A third person can demand the fulfillment of a contract if it contains stipulations in their favor, provided they communicated their acceptance to the obligor before its revocation.
- A mere incidental benefit or interest is not sufficient; the contracting parties must have clearly conferred a favor upon the third person.
Contract Performance
- Contracts are perfected by mere consent, and from that moment, the parties are bound to the fulfillment of what has been expressly stipulated and all consequences in keeping with good faith, usage, and law.
- Real contracts, such as deposit, pledge, and commodatum, are not perfected until the delivery of the object of the obligation.
Authority to Contract
- No one may contract in the name of another without being authorized by the latter, or unless they have by law a right to represent them.
- A contract entered into in the name of another by one who has no authority or legal representation is unenforceable, unless ratified by the person on whose behalf it has been executed.
Essential Requisites of Contracts
- There is no contract unless the following requisites concur: consent of the contracting parties, object certain, and cause of the obligation.
- Consent is manifested by the meeting of the offer and acceptance upon the thing and the cause which are to constitute the contract.
- The offer must be certain, and the acceptance must be absolute.
Contract Effectiveness
- Contracts take effect only between the parties, their assigns, and heirs, except in cases where the rights and obligations arising from the contract are not transmissible by their nature, or by stipulation or by provision of law.
- The heir is not liable beyond the value of the property they received from the decedent.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge of the general provisions in Chapter 1 of Contracts, including the definition of a contract, establishment of stipulations, and regulations for innominate contracts.
