Research the definition of the following defective contracts:

1. RESCISSIBLE
- Valid until rescinded
- Has all essential requisites but because of injury/damage to one of the parties, the contract may
be rescinded.

5 RESCISSIBLE CONTRACTS

1. Those entered by guardians & suffered LESION by more than ¼ of value that is the OBJECT.
2. Those agreed upon in representation of absentees, if the absentees suffered LESION.
3. Those undertaken in FRAUD of creditors when the creditors cannot further claim.
4. If entered into contract w/o knowledge/approval of litigants under litigation.
5. Contracts subjected to rescission declared by law

2. UNENFORCEABLE
- Cannot be sued/enforced unless ratified
- No effect now but may take effect upon ratification.

3 UNENFORCEABLE CONTRACTS

1. Those entered in name of other person, or who acted BEYOND his powers.
2. Those who do not comply w/ the Statute of Frauds
3. Those where both parties are incapable of giving consent to a contract

3. VOIDABLE
- Valid until annulled
- Has all essential requisites but because of defect in consent, contract may be annulled

3 VOIDABLE CONTRACTS

1. One of the parties INCAPABLE of giving consent to a contract.

2. Those where consent vitiates by vices of consent. (MFVIU)
3. Those agreed in the state of drunkenness/hypnotic spell.

4. VOID

- NO effect at all
- Cannot be ratified/validated