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    General Principles About Contracts and Obligations

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    Mayra Joei Ruta

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    © All Rights Reserved
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    General Principles About Contracts and Obligations

    Uploaded by

    Mayra Joei Ruta
    6 views2 pages

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    General Principles about Contracts and Obligations

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    6 views2 pages

    General Principles About Contracts and Obligations

    Uploaded by

    Mayra Joei Ruta

    Copyright:

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

    General Principles about Contracts and *the contracting parties can agree on

    Obligations. any term or condition provided that


    they are not contrary to law,
    morals, good customs, public order
    Art.1308- When two persons enter into a or public policy. (basic principle 5)
    written agreement, the terms and conditions
    they have agreed upon are stated therein. BASIC PRINCIPLES:
    They are bound by the said conditions and
    they should therefore comply with the same  Contract takes effect only as
    in good faith. (basic principles 1&2) between the parties, their
    assign heirs subject to the
    following exceptions:
    Art.1305- A contract is the meeting of
    minds between two persons whereby one a. Where the rights and
    binds himself, with respect to the other, to obligations are not
    give something or to render some service. transmissible by their nature
    or by stipulation and
    Essential Elements: provision of law.
    1. CONSENT 2. SUBJECT
    MATTER 3. CONSIDERATION b. There is a stipulation in favor
    of the 3rd person.
    Natural Elements: REQUISITES:
    Unless otherwise stipulated, these elements 1. The contracting parties
    are presumed to exist. Ex. WARRANTY must have clearly and
    AGAINST EVICTION & WARRANTY deliberately conferred a
    AGAINST HIDDEN DEFECTS. (Sale) favor of a third person.

    Accidental Elements: 2. a mere incidental


    Those agreed upon by the parties like benefit or interest of a
    agreement to pay in five equal installments person is not sufficient

    3. A third person must


    WHEN IS A CONTRACT PERFECTED? communicate his
    acceptance to the
    CONSENSUAL CONTRACT (sale) – obligor before the
    perfected by mere consent. revocation of the
    contract or of the
    REAL CONTRACT (pledge) – perfected by
    stipulation by the
    delivery of the thing pledged
    original party
    FORMAL CONTRACT (donation for
    chapel) – requires public instrument
     As a rule, an unauthorized
    person cannot enter into a
    contract in the name of
    another.
    REQUISITES:
    a. He must be duly authorized
    by the person whom he
    represents, either expressly or
    impliedly;
    b. He must have the right to
    represent said person;
    c. The person he represent must
    subsequently ratify the
    contracts entered into by him.

     Obligations arising from


    contract have the force of law
    between the contracting
    parties and should be
    complied with in good faith.
    (Art. 1159, NCC)

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