Professional Documents
Culture Documents
1. GENERATION
2. PERFECTION
3. CONSUMMATION
INNOMINATE CONTRACTS
• Do ut des: I give that you give (now barter)
• Do ut facias: I give that you do
• Facio ut des: I do that you give
• Facio ut facias: I do that you do
CHARACTERISTICS
1. CONSENSUALITY
Perfected by mere consent
Exception: delivery or solemn contracts
3. MUTUALITY
Must bind both parties
Validity and performance cannot be left to the will of only one
Exceptions:
1. will of third person whose decision shall not bind unless made known to the,
2. chance
4. AUTONOMY
Freedom to establish stipulations, clauses, terms and conditions as they deem convenient
Limitation: LAMOCPOP
Examples:
1. Waiver of an action to file for future fraud
2. Unconscionable interest
3. Stipulation to remain unmarried
4. Limiting common carrier’s liability
5. RELATIVITY
Gr contracts affects only between parties, their assigns and heirs
Exception: rights and obligations which are not transmissible (personal)
ESSENTIAL REQUISITES
1. CONSENT
Meeting of the offer and acceptance upon the thing and the cause
Requisites of Consent:
1. Concurrence of offer and acceptance
2. Legal capacity
3. Intelligent, free, spontaneous and real
GENERAL RULE: one cannot renounce unilaterally or without the consent of the other
EXN: upon reasonable period of notice or when cancellation is by reason of breach
RULES ON OFFER
No contract without cause and so promisor not bound by his promise and may withdraw
Offer maybe withdrawn so long the offeror has no knowledge of acceptance
Pending the acceptance, offeror can perfect contract with another
ACCEPTANCE
May be revoked before it comes to the knowledge of the offeror because that would mean
no meeting of the minds.
IMPLIE ACCEPTANCE
Acts or facts showing intent to accept
RIGHTS OF THE OFFERROR
Fix the time, place and manner of acceptance
REQUISITES OF ACCEPTANCE
1. Absolute with no vitiation
2. Directed to the offeror
3. Made with intention to be bound
4. Made within proper time
5. Communicated and learned by the offeror
OPTION CONTRACT
A preparatory contract giving a person, for a consideration (need not be money), certain period
under specified conditions within which to accept the offer.
REQUISITES:
a. Supported by independent consideration
b. Exclusive