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    Contract-Notes-2

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    Contract

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    10 views19 pages

    Contract Notes 2

    Uploaded by

    William Tabuena
    Contract

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 19
    as ame a \S W001 A Contac ~ proctee, Reger Law Contracts 1 Identification Basic Concept/Principle a0 taesciy 2. Limitation imposed by laws on ones capacity to act, Office _ 2. The proposal to make contract. A 3. The unconditional and unqualified agreement to the off 4: Remedy in equity by which a written insteument ig ‘made to conform to Mictone __ the real intentions of the parties. tt Exac___ 5. False notion of a thing or a fact. '* Ialier’ solk. 6, Agreement that do not apy either party. 'toccurs when to wrest consent, serious or irresistible force is ‘employed. Relormanen spear on the face of the contract and do not bind Vicar 7, ‘euauddauica 8, When one party is compelled by reasonable or well-grounded fee, ofa Undue Grave evil upon his person, family or property, ‘=tLstact 9, When one takes improper advantage of his power or relationship over Fecerentia) another, Fear A . ——10. The fear of displeasing a person to whom respect and obedience are due. <'fllyees "11. It affects the substance of the agreement and without it the party would not have consented, Suquilatinn 12, The declaration ofa fcttious intent manifested deliberately and by Recind | agreement of the parties. Besciscign 13, A remedy to make ineffective s contract validly entered into where there is pencuniary prejudice or lesion, by restoration of the ‘things to their original condition. {ovst___14. The fact which explains and justifies the creation of an obligation. cuanae But 15. A ground to modify a contract when there is substantial change in facts cosas 5 Natid Nevadion phot ull eximguicy “he fhe ’ [Sesion ! or coneitions affecting contracts. Che ai ott ane auto ALOATION'L ain.” 16. The term used to cover varlous acts such as confirmation, 3 othe Sm acknowledgment, and ratification proper. Eciepoe! 17. Wherein a person's admission or representation is rendered conclusive upon him and cannot be disproved against the person relying thereon. Lucid lotr vol 18. Wherein there is a full return of a person’s mind to sanity. as 19, Refers to standardized contracts offered to consumers on essentially take cat tanecinn Badges it or leave it basis. of tmud 20. Instances showing possibility of fraud. ‘TRUE OR FALSE Defect Of Proof _F 1. Statute of frauds is applied to executor & partially executed contracts. __E____2. The right to set up the defense of illegality in void contract can be waived. ‘Sean Canseamnet _—E__3 Stipulation por autrul is an exception to the rule on consensuality of contracts. _4. Failure to disclosed facts, when there is a duty to reveal them, as when confidential relations bind the parties constitutes fraud. ___F__5. Contracts take effects only between the contracting parties. St Real contrat are gertecee by werecansent delorery of the, thong 7. When the real agreement of the parties stated in a contract is vold the Parties can ask for reformation of the instrument. 8. Consilmimation of a contract is manifested by the offer and acceptance. I. 9. Annulment is available only to persons who are obliged principally or subsidiary. It is not available to third persons. 10. Cause is the essential or more proximate purpose; which the parties have in view in entering into the contracts. It voids the contract if unlawful like motive. 11. When, there having been a meeting of the minds of the parties to a contracts, their true Intention is not expressed in reason of mistake, fraud, inequitable conduct or accident, one of the parties may ask for the reformation of the instrument. ____T__12. an offer becomes ineffective upon the death, civil interdiction, insanity, or insolvency of either party before acceptance Is conveyed. T.___13. Acceptance made by letter or telegram does not bind the offerer except from the time it came to this knowledge. The contract, in such a case, is presumed to have been entered into in the place where the offer was made. F 14, Legal life of a contract starts in the conception stage.

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