2 Essential Requisites

Essential Requisites of a Contract:

Consent
Object of the Contract
Cause of the Contract
Kinds of Elements
Essential Elements
Are those necessary for the very existence of the contract itself
The absence of any one of these essential elements will prevent the creation
or existence of a contract. In other words the contract is inexistent in the
absence of any of the essential elements.
Essential Elements might be subdivided into:
Common - those present in all contracts (Consent, Object and Cause)
Special - those that are not common to all contract or those that are
present in specified contracts
To Form
Public Instrument in Donation of Immovable Property
Delivery in real contracts
Registration in real estate mortgage
chattel mortgage (In addition to the requisites stated in article
2085, it is indispensable, in order that a mortgage may be validly
constituted, that the document in which it appears be recorded
in the Registry of Property.)
Subject Matter
Real Property in Antichresis (By the contract of antichresis the
creditor acquires the right to receive the fruits of an immovable
of his debtor, with the obligation to apply them to the payment
of the interest, if owing, and thereafter to the principal of his
credit)
Personal Property in Pledge
Consideration or cause
Price in Sale
Lease
Liberality in Commodatum
 Natural Elements
They are not necessary for the validity but is presumed to exist in a contract
unless there is stipulation to the contrary
Warranty In Case of Eviction in a Contract of Sale
In case that the thing was lost by final judgment due to a right prior
or an act imputable to the vendor
The vendor must answer for the eviction even though nothing
has been said in the contract
Warranty against hidden defects in sale
The vendor shall be responsible for warranty against the hidden
defects which the thing sold may have, should they render it unfit for
the use for which it is intended, or should they diminish its fitness for
such use to such an extent that, had the vendee been aware thereof,
he would not have acquired it or would have given a lower price for
it; but said vendor shall not be answerable for patent defects or those
which may be visible, or for those which are not visible if the vendee
is an expert who, by reason of his trade or profession, should have
known them.
Accidental Elements
Could only exist if there is a stipulation of the parties
Clauses, terms and conditions
Interest and penalties
Essential Requisites
The absence of any of these essential requisites will prevent the creation or
existence of a contract
Consensual Contracts are those that are perfected by mere consent hence
those that are elaborated in Article 1318 are the only essential requisites needed
to create a contract, while in contrast to real contracts which has a special
essential requisite of delivery that is necessary to perfect the contract.
Essentially real contracts essential requisites are consent, object, cause and
delivery (COCD).
Purpose of Essential Requisites
Essential Requisites are necessary in the perfection of a contract. In other words a
contract may be perfected but it may not be valid.
Inexistent and Void Contracts Distinguished
Inexistent Contracts - is where one, some or all of the essential requisites are
not present
A contract that is simulated
A contract where the object was inexistent at the time of perfection
Void Contracts - is where all of the essential requisites are present but its
cause, object or purpose is contrary to law, morals, good customs, public
order and public policy.
A contract that is contrary to law, morals, good customs, public order and
public policy
A contract that violates the principle of mutuality
Solemn contracts that failed to follow formal requirements of the law for
their validity