Understanding Contracts and Obligations

Defective Contract = A contract having legal insufficiency Rescissible Contract = A valid contract that can be annulled Voidable Contract = A contract valid until annulled Consummation = The birth of the contract

Mutuality = The contract must bind both parties Meeting of the Minds = The concurrence of offer and acceptance Vitiation of Consent = Violence affecting a party's agreement Mistake = An inherent human tendency to err

A contract is defective due to incompleteness = TRUE A rescissible contract is void = FALSE Object contrary to law is valid = FALSE Meeting of minds is key in contract formation = TRUE

<p>Material Mistake = Can invalidate the contract Mutual Mistake = Leads to inability of the parties to perform Unilateral Mistake = Only affects one party's obligations Mistake of Law = General error regarding legal principles</p> Signup and view all the answers

<p>Gratuitous Contract = A donation without any return Void Contract = A contract for illegal activities Voidable Contract = A contract signed under duress Rescissible Contract = A contract that can be contested due to damage</p> Signup and view all the answers

<p>Contract = An agreement enforceable by law Obligation = A duty that arises out of a contract Defective Contract = A contract that lacks essential elements Consent = Agreement between parties regarding contract terms</p> Signup and view all the answers

<p>Offer = A proposal to enter into a contract Acceptance = Agreement to the terms of the offer Consideration = Something of value exchanged between parties Legality = The contract's compliance with the law</p> Signup and view all the answers

<p>Formation = Creating a mutual agreement Performance = Fulfilling the contract terms Breach = Failure to perform as agreed Termination = Ending the contractual relationship</p> Signup and view all the answers

<p>Mistake = An error in understanding the terms Fraud = Deceit or misrepresentation by a party Duress = Coercion affecting free will Undue Influence = Exploitation of a position of power</p> Signup and view all the answers

<p>Verbal Contract = Agreement made through spoken communication Written Contract = Documented agreement signed by parties Implied Contract = Agreement inferred from actions Bilateral Contract = Agreement involving mutual promises</p> Signup and view all the answers

<p>Public Order = Maintaining social order and safety Morals = Principles of right and wrong behavior Customs = Practices accepted in a particular culture Legislation = Laws enacted by a governing body</p> Signup and view all the answers

<p>Clarity = Clear expectations for both parties Protection = Legal safeguards against breaches Accountability = Increased responsibility for actions Enforceability = Ability to uphold contract terms in court</p> Signup and view all the answers

<p>Fulfill Duties = Complete contracted tasks Communicate Issues = Notify parties of potential problems Maintain Records = Keep documentation of the contract Negotiate Changes = Discuss amendments to the agreement</p> Signup and view all the answers

<p>Violence = Force is used to compel someone Intimidation = Threat to induce signing a contract Mistake = Error due to lack of knowledge Fraud = Inducement through deceitful schemes</p> Signup and view all the answers

<p>Violence = Forcing someone to sign at gunpoint Intimidation = Threatening harm to family members Mistake = Signing a contract without knowing its terms Fraud = Misleading someone into signing a fake contract</p> Signup and view all the answers

<p>Natural person = An individual with legal personality Juridical person = A corporation or partnership Contract = Binding agreement between parties Voidable = Can be annulled due to vices of consent</p> Signup and view all the answers

<p>Consent = Intelligent, free, spontaneous Object = Legality and moral compliance Cause = Price or equivalent consideration Capacity = Legal ability to enter a contract</p> Signup and view all the answers

<p>Consent = Agreement between parties Object = What is being exchanged or contracted Cause = Reason for entering into a contract Capacity = Ability of parties to engage legally</p> Signup and view all the answers

<p>Violence = May result in a signed contract under duress Intimidation = Can nullify the agreement if proven Mistake = Leads to incorrect understanding of terms Fraud = Can render the contract void if discovered</p> Signup and view all the answers

<p>Consent = Necessary for a valid contract Capacity = Must be present for enforcement Object = Needs to be lawful and achievable Cause = Provides the contractual motivation</p> Signup and view all the answers

<p>Contract = An agreement between parties that creates obligations Voidable contract = A contract that is valid until annulled Rescissible contract = A contract that can be rescinded due to certain conditions Meeting of the minds = The mutual agreement between parties on the terms of a contract</p> Signup and view all the answers

<p>Defective contract = A contract that is legally insufficient Consummation = The point at which a contract is fully executed Mutuality = The requirement that both parties are bound by the contract Violence = A factor that can vitiate consent in a contract</p> Signup and view all the answers

<p>Mistake = An error made by one or both parties Object of the contract = The subject matter of the contract Legality = The requirement that the contract's terms must comply with the law Customs = Social norms that may influence contractual obligations</p> Signup and view all the answers

<p>A contract is considered defective due to incompleteness = True A rescissible contract is a void contract = False Consummation is the birth of the contract = True Mistake is attributed to human error = True</p> Signup and view all the answers

<p>Meeting of the minds = The agreement on the terms of the contract Violence in contract = Vitiation of consent Contract perfection = Completion upon meeting of the minds Mutuality of contracts = Binding obligations on both parties</p> Signup and view all the answers

<p>Void contract = A contract without legal effect Voidable contract = Can be enforced or annulled by one party Rescissible contract = Valid until certain conditions are met Perfected contract = Exists once all parties agree</p> Signup and view all the answers

<p>Legal insufficiency = A situation where a contract fails to meet legal standards Public policy = Standards that guide the legality of contracts Counter-offer = A new proposal that differs from the original offer Consent = The agreement by parties to enter into a contract</p> Signup and view all the answers

<p>True statement = A valid observation about contracts False statement = An incorrect characterization of contract law Legal principle = Rules governing the formation and enforcement of contracts Contractual obligation = The duties that parties have under a contract</p> Signup and view all the answers

<p>Rescissible Contract = Valid contract that may be rescinded due to injury or damage Voidable Contract = Valid contract with vitiated consent until annulled Unenforceable Contract = Contract that cannot be enforced unless ratified Void Contract = Considered inexistent and produces no effects</p> Signup and view all the answers

<p>Rescissible Contract = Contains essential requisites but may be invalidated Voidable Contract = Can be annulled if consent was compromised Unenforceable Contract = Must comply with the Statute of Frauds to be valid Void Contract = Has objects contrary to law or public policy</p> Signup and view all the answers

<p>A contract harmed by misrepresentation = Voidable Contract A contract without written form when needed = Unenforceable Contract An agreement with illegal terms = Void Contract A contract that can be canceled for damages = Rescissible Contract</p> Signup and view all the answers

<p>Fraud = Deception affecting consent Intimidation = Threats influencing the contract Mistake = Error leading to flawed consent Violence = Force affecting the contracting parties</p> Signup and view all the answers

<p>Void Contract = Non-existent and has no legal effects Rescissible Contract = Can be validated through proper rescission Voidable Contract = Remains valid until annulled Unenforceable Contract = Requires ratification to be enforced</p> Signup and view all the answers

<p>Rescissible Contract = May be rescinded Voidable Contract = Enforceable unless annulled Unenforceable Contract = Not enforceable unless ratified Void Contract = Not enforceable at all</p> Signup and view all the answers

<p>Essential requisites present = Rescissible Contract or Voidable Contract Consent that is flawed = Voidable Contract Non-compliance with writing requirements = Unenforceable Contract Contract without any legal value = Void Contract</p> Signup and view all the answers

<p>Onerous Contract = A contract where parties are reciprocally obligated to each other Remunerative Contract = A contract aimed at providing payment for services rendered Gratuitous Contract = A contract that lacks consideration or compensation Contract = A legally binding agreement between two or more parties</p> Signup and view all the answers

<p>Learning Targets = Goals outlining what students should achieve by the end of the lesson Performance Assessment = Measure of students' understanding and skills after a lesson Action Plan = A strategy detailing steps to improve or maintain performance FAQs = Commonly asked questions regarding the lesson or module</p> Signup and view all the answers

<p>Quality of Performance = Assessment of how well a student completed a task Challenges in Learning = Identifying difficulties encountered during the module Concept Understanding = Evaluation of how well students grasp the material Teacher's Guidance = Support provided by the teacher to clarify misunderstandings</p> Signup and view all the answers

<p>Date = The day the activities or assessments were completed Class Number = Identification of the specific class to which the student belongs Module Number = Reference to the specific educational module being studied Section = Subcategory of the class that may group students by skill level</p> Signup and view all the answers

<p>Modules = Structured units of study that cover specific topics Scores = Quantitative measure of student performance on assessments Activities = Practical exercises aimed at reinforcing learned concepts Schedules = Timelines dictating when classes or modules are conducted</p> Signup and view all the answers

<p>What module did you finish? = Inquiry about the completion status of the learning modules What helped you learn? = Seeking information on effective learning resources or methods What were the challenges faced? = Understanding difficulties encountered during the module What will you do next? = Planning future actions based on current performance</p> Signup and view all the answers

<p>Onerous = Both parties have obligations to each other Remunerative = Compensates for prior services Gratuitous = Involves no expectation of payment Contract = Standard agreement that can vary in terms</p> Signup and view all the answers

<p>Concept Learning = Understanding the fundamental ideas or principles Self-Assessment = Evaluating one’s own understanding and performance Feedback = Information provided to help improve future performance Active Learning = Engaging with the material through hands-on activities</p> Signup and view all the answers

A contract where one party gives something out of generosity or liberality without expecting anything in return.

A contract that is valid until annulled by a court of law due to a flaw in its formation.

A contract that is legally defective due to its incompleteness or incorrectness. It can be corrected or amended.

An agreement where both parties have a clear understanding of the terms and conditions, and they agree to be bound by them.

The moment a contract comes into existence when the offer and acceptance match.

A contract where both parties have obligations to each other.

A contract where one party provides a service or good in exchange for payment.

The reason or purpose behind a contract.

A contract can be classified as onerous, remunerative, or gratuitous based on the exchange between the parties involved.

A contract where one party is required to pay for services already provided by the other party.

A contract where both parties benefit from the exchange of goods or services.

A contract where there is no expectation of payment or compensation.

A contract that appears valid on its face, but due to a defect or irregularity can be set aside by a court.

A contract that is completely void from the beginning, as if it never existed. It has no legal effect and cannot be enforced.

The essential element of a contract that refers to the object or subject matter of the agreement.

A legal concept that requires a contract to be binding on both parties. It ensures fairness and prevents one party from being unfairly bound.

A factor that can invalidate consent, rendering a contract voidable. It involves physical force or threats.

A factor that can invalidate consent, rendering a contract voidable. It involves a mistake about a fundamental aspect of the contract.

A legally binding agreement between two or more parties to do or not do something specific. It involves mutual promises and commitments.

Elements that need to be present for a contract to be valid and enforceable. These are essential ingredients.

A flaw in the consent given by one or both parties in a contract. It affects the validity and enforceability of the agreement.

The stages a contract goes through from its initial negotiation to its completion. It involves steps like offer, acceptance, and performance.

Qualities or characteristics that define a valid contract. These are like benchmarks for a contract.

The fundamental right guaranteed by the Constitution, allowing individuals to enter into agreements for their own benefit.

The agreement between two parties, where one promises to give something or perform a service in exchange for something from the other party.

Consent is the meeting of minds between two parties, where they agree on the terms and conditions of the contract. It must be intelligent, free, spontaneous, and real.

The object of a contract must be legal and not against customs, morals, public order, or public policy. It's the thing or service being exchanged.

The reason or price for entering into a contract. Usually, this is in the form of money or its equivalent.

When someone is forced to sign a contract under threat of serious or irresistible force, like being held at gunpoint.

When someone is threatened to sign a contract, for example, threats to harm them or their family.

A mistake about the nature of the contract, like misunderstanding the terms or what's being exchanged.

A contract that cannot be enforced in court unless it's fixed or ratified. It's usually missing a required element or violates the Statute of Frauds.

A legal rule that requires certain contracts to be in writing to be enforceable.