Elements of a Contract: CONCUR and Stages

A contract must be in writing to be considered enforceable.

The autonomy of contract means that contracting parties must adhere to specific terms and conditions set by law.

A contract is considered defective if it lacks one of the essential elements of CONCUR, CONSENT, or OBJECT.

An unauthorized contract is always voidable at the instance of the unauthorized party.

A contract that is not contrary to law, morals, good customs, public order, or public policy is always considered enforceable.

The relativity of contract means that a contract is binding on all parties, not just the contracting parties.

A contract of adhesion is a type of contract where both parties prepare the contract.

An onerous contract is a type of contract where one party provides a consideration and the other party does not.

All contracts must have a specific name or title to be considered a nominate contract.

A consensual contract is a type of contract that is perfected by delivery of the object.

The characteristic of autonomy of contract means that the contracting parties must adhere to a set of standard terms and conditions.

The relativity of contract means that a contract binds all parties involved, including third parties.

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 with an impossible service as its object is void.

Undue influence is a ground for a void contract.

A contract causing damage or injury to one of the parties is rescissible.

A contract without a cause, object, or purpose is voidable.

The principle of in pari delicto applies to rescissible contracts.