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Compiled For Ece Laws Quiz 1
Compiled For Ece Laws Quiz 1
1. As to origin
Gift
- a mere promise of a thing of value.
Lawful
- not contrary to public policy.
Fundamentals of Laws,
Obligations and Contracts
(Part 2)
Dr. Myra A. Manalo, SO2, 1PHN, CLSSYB, PECE
Competency of Contracting Parties
There question of competency may under certain
conditions be raised in the case of contracts where one
of the parties falls into one of the following classifications:
1. Infants
2. Persons of unsound mind
3. Drunken persons
4. Persons under legal guardianship
5. Corporations
6. Convicts
Competency of Contracting Parties
There question of competency may under
certain conditions be raised in the case of
contracts where one of the parties falls into one of
the following classifications:
7. Enemy aliens
8. Federal and state governments
9. Foreign country and sovereigns
10. Professional persons who are required by law
to register and to be licensed.
Main Legal Requirements as to Form
Main Legal Requirement as to form
- the contract shall be in writing.
Negotiable instruments
1. Promissory notes
2. Bills of exchange - Bank drafts
3. Bank checks
4. Insurance contracts (bonds)
Bid Bonds, Performance bonds
Penalties
Penalties
- if the amount of damage is readily attainable and the
amount stipulated is very much in excess of the said
amount.
Liquidated Damages
- if it is indefinite and of uncertain value
Principal Classes of Contracts Opposed to Law
or Public Policy
1. Sale of public office, public contracts or bribing of public officials
2. Deprived the court of jurisdiction or to compound a crime
3. Encourage litigation
4. Committing of a crime or a tort
5. Promote fraud and breach of trust
6. Unduly affect the freedom or security of marriage
7. Unreasonable restraint of trade and which tend to suppress
competition
8. Usurious rate of interest
9. Injure the public health or safety
10. Establish unlawful monopolis, trust.
Ways to Discharge Contracts
1. Performance
2. Impossibility performance
3. Substantial performance
4. Agreement
5. Operation of law
- merger
- alteration
- bankruptcy
6. Breach of contract
7. Statute of limitations
Remedies for Breach of Contracts
As an Electronics Engineer, I will participate in none but honest and legal enterprises. To him who has engaged my services, as
employer or client, I will give the
utmost of performance and fidelity.
When needed, my skill and knowledge shall be given without reservation for the public good. From my special capacity springs the
obligation to use it well in the service
of humanity; and I accept the challenge that this implies.
Zealous of the high repute of my colleague, I will strive to protect the interest and the good name of any engineer that I know be
deserving; but I will not shirk, should duty
dictate, from disclosing the truth regarding anyone who, by unscrupulous act, has shown himself unworthy of the profession.
As others before me have vitalized and turned to practical account the principles of science and the revelations of technology and
have rendered usable to mankind
nature’s vast resources of matter and energy so do I dedicate myself to the analysis, synthesis and dissemination of engineering
knowledge and practice. And especially to the instruction of younger members of my profession in all its arts and traditions.
To my colleagues I pledge, in the same full measure, I ask of them, integrity and fair dealing, tolerance and respect, and devotion to
the standards and the dignity of our
profession, with the consciousness, always, that our special expertise carries with it the obligation to serve humanity with complete
dedication.
So help me God.
______________________________ ___________________________________
Date Signature