Classes of Defective Contract

Essential Features

 
Rescissible
Voidable
Unenforceable
Inexistent/Void
As to Defect:
There is damage or injury either to one of the contracting parties or to third persons;
There is vitiation of consent or legal incapacity of one of the contracting parties;
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;
One or some of the essential requisites of a valid contract are lacking either in fact or in law;
As to Effect:
considered valid and enforceable until they are rescinded by a competent court;
considered valid and enforceable until they are annulled by a competent court;
cannot be enforced by a proper action in court;
do not, as a general rule, produce any legal effect;
As to Prescriptibility of action or Defense:
the action for rescission may prescribe;
the action for annulment or the defense of annulability may prescribe;
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;
the action for declaration of nullity or inexistence or the defense of nullity or inexistence does not prescribed;
As to Susceptibility of
Ratification:
Are not susceptible of Ratification;
Are susceptible of Ratification;
Are susceptible of Ratification;
Are not susceptible of Ratification;
As who may assail Contracts:
Maybe assailed only by a contracting party but even by a third person who is prejudiced or damaged by the contract;
May be assailed only by a contracting parties;
May be assailed only by a contracting parties;
May be assailed not only by a contracting party but even by a third person whose interest is directly affected;
As to how contracts may be assailed:
May be assailed directly only, and not collaterally;
May be assailed directly or collaterally;
May be assailed directly or collaterally;
May be assailed directly or collaterally;
 

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