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    A. Oral

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    Kristine Martires
    A contract can be reformed if there was a mistake or misrepresentation made, to make the contract align more closely with the original intentions of the parties. However, reform is not allowed if it would cause economic harm to either party in the future. Contracts must meet certain validity requirements for the object/thing, which must exist, not be impossible, be capable of coming into being, and be certain. A contract is contrary to law if it violates laws, morals, customs, public order or public policy. Contracts can be oral, written, or require notarization depending on the type of agreement and what is required to make it effective.

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    A. Oral

    Uploaded by

    Kristine Martires
    19 views2 pages
    A contract can be reformed if there was a mistake or misrepresentation made, to make the contract align more closely with the original intentions of the parties. However, reform is not allowed if it would cause economic harm to either party in the future. Contracts must meet certain validity requirements for the object/thing, which must exist, not be impossible, be capable of coming into being, and be certain. A contract is contrary to law if it violates laws, morals, customs, public order or public policy. Contracts can be oral, written, or require notarization depending on the type of agreement and what is required to make it effective.

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    Law

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    A contract can be reformed if there was a mistake or misrepresentation made, to make the contract align more closely with the original intentions of the parties. However, reform is not allowed if it would cause economic harm to either party in the future. Contracts must meet certain validity requirements for the object/thing, which must exist, not be impossible, be capable of coming into being, and be certain. A contract is contrary to law if it violates laws, morals, customs, public order or public policy. Contracts can be oral, written, or require notarization depending on the type of agreement and what is required to make it effective.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views2 pages

    A. Oral

    Uploaded by

    Kristine Martires
    A contract can be reformed if there was a mistake or misrepresentation made, to make the contract align more closely with the original intentions of the parties. However, reform is not allowed if it would cause economic harm to either party in the future. Contracts must meet certain validity requirements for the object/thing, which must exist, not be impossible, be capable of coming into being, and be certain. A contract is contrary to law if it violates laws, morals, customs, public order or public policy. Contracts can be oral, written, or require notarization depending on the type of agreement and what is required to make it effective.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    1. What can be a valid objects of contract?

    The second element of a legal contract, as we all know, is Object.


    Things, rights, or services could be the object. The object's requisites must be
    followed in order for it to be valid. For the thing to exist, it must be within men's
    commerce, it must not be legally or physically impossible, it must be able to
    come into being, and it must be certain. These conditions were likewise
    necessary for the service to be valid, with the exception that it did not have to be
    capable of existing. Finally, by their nature, agreement, or legal provision, rights
    should be intransmissible.

    2. When is the cause in a contract contrary to law, morals, good customs public
    order an public policy?
    Every individual has a right or freedom to go into an agreement as long
    as it`s no longer prohibited or opposite to law, morals, correct customs, public
    order or public coverage. Law is superior than a contract which means a contract
    can be void when it’s contrary to law. Second, morals are the norms of good and
    right conduct in a community. Third, customs are the habits and practices that an
    individual should follow and enforce. Fourth, public order is the public safety
    which is also important in the society. Lastly, Public policy is important to be
    followed for it’s for the public safety

    3. When must be a contract be:


    A. Oral
    An oral contract is an oral agreement between two parties. A
    contract can be oral when it is an offer, an acceptance of the offer and a
    consideration. In the case of a request, an individual can ask others to
    promise or perform a certain work. The latter can then accept an oral
    agreement with the offeror.

    B. In Writing
    Contracts can be written when there is an agreement on land,
    repayment of debt to another person, marriage, transfer of property,
    contract for more than one year, agreement on a certain amount, rental of
    real estate. and real estate sales involving an agent. And these types of
    contracts must be made in writing to be effective.

    C. Notarized before a notary public


    Notaries perform an important function of verifying the identities
    of the contracting parties. And the contract must be notarized before a
    notary agency when there may be a legal conflict between the parties.
    Having this contract notarized can be very advantageous between the
    parties. Contracts that may require a notary include real estate contracts,
    wills, trusts, medical powers of attorney, adoption papers, debt contracts,
    real estate leases, and estate deeds produce.

    4. Can contract be reformed?


    When it comes to signing a contract, there's always the possibility of
    making a mistake. That is why reformation exists: it allows the parties to rewrite a
    component of the contract so that it more closely represents their original
    intentions. It gives them the opportunity to take some sort of action to address
    the discrepancy. So, in the event of a mistake or misrepresentation, a contract
    can be reformed. However, contract reform would not be acceptable if it would
    cause economic harm to either party in the future.

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