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Rescissible
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Voidable
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Unenforceable
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Inexistent/Void
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As to Defect:
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There is damage or injury either to one of the contracting parties or to third persons;
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There is vitiation of consent or legal incapacity of one of the contracting parties;
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The contract is entered into in excess or without any authority, or does not comply with the statute of frauds, or both contracting parties are legally incapacitated;
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One or some of the essential requisites of a valid contract are lacking either in fact or in law;
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As to Effect:
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considered valid and enforceable until they are rescinded by a competent court;
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considered valid and enforceable until they are annulled by a competent court;
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cannot be enforced by a proper action in court;
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do not, as a general rule, produce any legal effect;
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As to Prescriptibility of action or Defense:
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the action for rescission may prescribe;
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the action for annulment or the defense of annulability may prescribe;
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the corresponding action for recovery, if there was total or partial performance of the unenforceable contract under No.1 or No.3 of Art. 1403, may prescribe;
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the action for declaration of nullity or inexistence or the defense of nullity or inexistence does not prescribed;
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As to Susceptibility of
Ratification:
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Are not susceptible of Ratification;
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Are susceptible of Ratification;
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Are susceptible of Ratification;
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Are not susceptible of Ratification;
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As who may assail Contracts:
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Maybe assailed only by a contracting party but even by a third person who is prejudiced or damaged by the contract;
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May be assailed only by a contracting parties;
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May be assailed only by a contracting parties;
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May be assailed not only by a contracting party but even by a third person whose interest is directly affected;
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As to how contracts may be assailed:
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May be assailed directly only, and not collaterally;
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May be assailed directly or collaterally;
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May be assailed directly or collaterally;
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May be assailed directly or collaterally;
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