Obligations and contracts philippine reviewer

There is no contract unless the following requisites concur: Consent is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must be certain and the acceptance absolute.

Obligations and contracts philippine reviewer

There is no contract unless the following requisites concur: Consent is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must be certain and the acceptance absolute.

A qualified acceptance constitutes a counter-offer. Acceptance made by letter or telegram does not bind the offerer except from the time it came to his knowledge. The contract, in such a case, is presumed to have been entered into in the place where the offer was made.

Obligations and contracts philippine reviewer

An acceptance may be express or implied. The person making the offer may fix the time, place, and manner of acceptance, all of which must be complied with. An offer made through an agent is accepted from the time acceptance is communicated to him. An offer becomes ineffective upon the death, civil interdiction, insanity, or insolvency of either party before acceptance is conveyed.

When the offerer has allowed the offeree a certain period to accept, the offer may be withdrawn at any time before acceptance by communicating such withdrawal, except when the option is founded upon a consideration, as something paid or promised.

Unless Obligations and contracts philippine reviewer appears otherwise, business advertisements of things for sale are not definite offers, but mere invitations to make an offer. Advertisements for bidders are simply invitations to make proposals, and the advertiser is not bound to accept the highest or lowest bidder, unless the contrary appears.

The following cannot give consent to a contract: Contracts entered into during a lucid interval are valid. Contracts agreed to in a state of drunkenness or during a hypnotic spell are voidable. The incapacity declared in Article is subject to the modifications determined by law, and is understood to be without prejudice to special disqualifications established in the laws.

A contract where consent is given through mistake, violence, intimidation, undue influence, or fraud is voidable.

In order that mistake may invalidate consent, it should refer to the substance of the thing which is the object of the contract, or to those conditions which have principally moved one or both parties to enter into the contract.

Mistake as to the identity or qualifications of one of the parties will vitiate consent only when such identity or qualifications have been the principal cause of the contract.

A simple mistake of account shall give rise to its correction. When one of the parties is unable to read, or if the contract is in a language not understood by him, and mistake or fraud is alleged, the person enforcing the contract must show that the terms thereof have been fully explained to the former.

There is no mistake if the party alleging it knew the doubt, contingency or risk affecting the object of the contract. Mutual error as to the legal effect of an agreement when the real purpose of the parties is frustrated, may vitiate consent.

There is violence when in order to wrest consent, serious or irresistible force is employed. There is intimidation when one of the contracting parties is compelled by a reasonable and well-grounded fear of an imminent and grave evil upon his person or property, or upon the person or property of his spouse, descendants or ascendants, to give his consent.

To determine the degree of intimidation, the age, sex and condition of the person shall be borne in mind. A threat to enforce one's claim through competent authority, if the claim is just or legal, does not vitiate consent.

Violence or intimidation shall annul the obligation, although it may have been employed by a third person who did not take part in the contract.

There is undue influence when a person takes improper advantage of his power over the will of another, depriving the latter of a reasonable freedom of choice.

The following circumstances shall be considered: There is fraud when, through insidious words or machinations of one of the contracting parties, the other is induced to enter into a contract which, without them, he would not have agreed to.

Failure to disclose facts, when there is a duty to reveal them, as when the parties are bound by confidential relations, constitutes fraud. The usual exaggerations in trade, when the other party had an opportunity to know the facts, are not in themselves fraudulent.

A mere expression of an opinion does not signify fraud, unless made by an expert and the other party has relied on the former's special knowledge.

Obligations and contracts philippine reviewer

Misrepresentation by a third person does not vitiate consent, unless such misrepresentation has created substantial mistake and the same is mutual.

Misrepresentation made in good faith is not fraudulent but may constitute error. In order that fraud may make a contract voidable, it should be serious and should not have been employed by both contracting parties.

Incidental fraud only obliges the person employing it to pay damages. Simulation of a contract may be absolute or relative. The former takes place when the parties do not intend to be bound at all; the latter, when the parties conceal their true agreement.

An absolutely simulated or fictitious contract is void.

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A relative simulation, when it does not prejudice a third person and is not intended for any purpose contrary to law, morals, good customs, public order or public policy binds the parties to their real agreement. All things which are not outside the commerce of men, including future things, may be the object of a contract.The book includes an introduction to law to provide readers a background on obligations and contracts and other business law courses A study guide is provided at the end of every chapter or section and is designed to, among other things, primarily test and further increase the understanding of the /5.

OBLIGATIONS AND CONTRACTS REVIEWER. TITLE I – OBLIGATIONS CHAPTER 1 GENERAL PROVISIONS An obligation is a juridical necessity to give, to do, or not to do.5/5(). Obligations And Contracts Philippine Reviewer OBLIGATIONS AND CONTRACTS REVIEWER TITLE I – OBLIGATIONS CHAPTER 1 GENERAL PROVISIONS An obligation is a juridical necessity to give, to do, or not to do.

JURIDICAL NECESSITY – juridical tie; connotes that in case of noncompliance, there will be legal sanctions. Law 1: Obligations and Contracts. DWCL BSBA. STUDY. PLAY. Define Law. In its widest and comprehensive sense, the term Law means any rule of action or any system of uniformity.

General Divisions of Law.

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1. Law, in its strict legal sense, which is promulgated and enforced by the state; refers to what is known as the state law. Book IV of the. obligations and contracts reviewer title i – obligations chapter 1 general provisions An obligation is a juridical necessity to give, to do, or not to do.

JURIDICAL NECESSITY – juridical tie; connotes that in case of noncompliance, there will be legal sanctions. yunusemremert.com is a platform for academics to share research papers.

The Law on Obligations and Contracts by Hector S. De Leon