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Questions and Answers
A contract must be in writing to be considered enforceable.
A contract must be in writing to be considered enforceable.
False
The autonomy of contract means that contracting parties must adhere to specific terms and conditions set by law.
The autonomy of contract means that contracting parties must adhere to specific terms and conditions set by law.
False
A contract is considered defective if it lacks one of the essential elements of CONCUR, CONSENT, or OBJECT.
A contract is considered defective if it lacks one of the essential elements of CONCUR, CONSENT, or OBJECT.
True
An unauthorized contract is always voidable at the instance of the unauthorized party.
An unauthorized contract is always voidable at the instance of the unauthorized party.
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A contract that is not contrary to law, morals, good customs, public order, or public policy is always considered enforceable.
A contract that is not contrary to law, morals, good customs, public order, or public policy is always considered enforceable.
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The relativity of contract means that a contract is binding on all parties, not just the contracting parties.
The relativity of contract means that a contract is binding on all parties, not just the contracting parties.
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A contract of adhesion is a type of contract where both parties prepare the contract.
A contract of adhesion is a type of contract where both parties prepare the contract.
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An onerous contract is a type of contract where one party provides a consideration and the other party does not.
An onerous contract is a type of contract where one party provides a consideration and the other party does not.
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All contracts must have a specific name or title to be considered a nominate contract.
All contracts must have a specific name or title to be considered a nominate contract.
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A consensual contract is a type of contract that is perfected by delivery of the object.
A consensual contract is a type of contract that is perfected by delivery of the object.
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The characteristic of autonomy of contract means that the contracting parties must adhere to a set of standard terms and conditions.
The characteristic of autonomy of contract means that the contracting parties must adhere to a set of standard terms and conditions.
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The relativity of contract means that a contract binds all parties involved, including third parties.
The relativity of contract means that a contract binds all parties involved, including third parties.
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A contract entered into by a guardian on behalf of a minor, where the minor suffered damage by less than 1/4 of the value of the property, is rescissible.
A contract entered into by a guardian on behalf of a minor, where the minor suffered damage by less than 1/4 of the value of the property, is rescissible.
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A contract with an impossible service as its object is void.
A contract with an impossible service as its object is void.
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Undue influence is a ground for a void contract.
Undue influence is a ground for a void contract.
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A contract causing damage or injury to one of the parties is rescissible.
A contract causing damage or injury to one of the parties is rescissible.
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A contract without a cause, object, or purpose is voidable.
A contract without a cause, object, or purpose is voidable.
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The principle of in pari delicto applies to rescissible contracts.
The principle of in pari delicto applies to rescissible contracts.
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Study Notes
Contract Formation and Enforceability
- A contract must be in writing to be enforceable in a legal context.
- The autonomy of contract requires parties to adhere to legally established terms and conditions.
- Essential elements of contracts include CONCUR (agreement), CONSENT (mutual consent), and OBJECT (a lawful purpose).
Types of Contracts and Their Characteristics
- Unauthorized contracts are voidable, meaning the unauthorized party can invalidate the contract.
- Contracts must not violate laws, morals, customs, public order, or public policy to be enforceable.
- Relativity of contract binds not just the immediate parties but also involves third parties in its obligations.
- A contract of adhesion is created with little input from one party, often leading to a "take it or leave it" situation.
- Onerous contracts involve one party providing consideration while the other does not offer a reciprocal benefit.
Specific Contract Types
- Nominated contracts require a specific name or title for legal recognition.
- Consensual contracts are perfected upon the delivery of the object involved.
- A guardian can enter into a contract on behalf of a minor, but it is rescissible if the minor suffers damages less than 1/4 of the property value.
Invalid and Voidable Contracts
- Contracts with impossible services as objects are inherently void.
- Undue influence serves as a basis for declaring contracts void.
- Contracts that inflict damage or injury on a party are rescissible.
- Voidable contracts lack essential elements, such as cause, object, or purpose.
Legal Concepts Related to Contracts
- The principle of in pari delicto applies to rescissible contracts, indicating that the parties are equally at fault in their obligations.
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Description
Test your understanding of the essential elements of a contract, including CONCUR, CONSENT, OBJECT, and the stages of a contract, from negotiation to perfection. Learn about the key concepts in contract law, including things, rights, and services that can be part of a contract.
