Obligation and Contract

Rescissible Contracts

In General – All of the essential Requisites of a contract exist The contract is valid Defective because of the injury or damage to either the contracting parties or to third persons’ as consequence of which it may be rescinded by means of proper action for Rescission. Characteristics – Their defect consists in injury orContinue reading “Rescissible Contracts”

Obligations and Contract

Obligations General Provisions Nature and Effect of Obligations Different Kinds of Obligations Extinguishment of Obligations Contacts General Provisions Essential Requisites of Contracts Forms of Contracts Reformation of Instruments Interpretation of Contracts Classification of Defective Contracts (Table) Rescissible Contracts Voidable Contracts Unenforceable Contracts Void or Inexistent Contracts Natural Obligations Estoppel Trusts Express Trusts Implied Trusts

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 complyContinue reading “Classes of Defective Contract”