Contracts

CONTRACTS
CONTRACT
 a meeting of minds between 2 persons whereby one binds himself, with respect to the other, to give something or to render some service (ARTICLE 1305)

GENERAL PROVISIONS
(Arts. 1305-1317)
Distinguish an ordinary Contract:
a.) from a Contract of marriage
b.) from an obligation
c.) from an imperfect promise
d.) from a pact
e.) from a stipulation

a.) from a Contract of marriage
ORDINARY CONTRACT
1. The parties may be 2 or more persons of same or different genders
2. Nature, consequences and incidents are governed by agreement of the parties
3. Once Contract is executed, result is a Contract
4. Can be terminated or dissolved by mere agreement of parties
5. In case of breach, injured party will institute an action for damages
CONTRACT OF MARRIAGE
1. It is necessary that parties must be 1 man and 1 woman
2. Nature, consequences and incidents are governed by law
3. Once marriage is celebrated, result is a status
4. Cannot be terminated or dissolved
5. In case of breach, injured party will institute Civil Action (for legal separation) or Criminal Action (for adultery or concubinage)

b. from an obligation
CONTRACT OBLIGATION
 the cause  the effect

However, among 5 Sources of Obligations (1.Law, 2.Contracts, 3.Quasi-contracts, 4.Acts punished by law, 5.Quasi-delicts), the most important are Contracts.
There can be an obligation w/o a Contract, but there can be no Contract w/o resultant obligation.

c. from an imperfect promise
IMPERFECT PROMISE (Policitation)
 an unaccepted offer
 represents the starting point of a Contract
d. from a pact
PACT
 an incidental part of a Contract which can be separated from principal agreement

e. from a stipulation
STIPULATION
 an essential and dispositive part of Contract which cannot be separated from principal agreement

The Elements of a Contract include the following:
1. ESSENTIAL – are those elements without which there can be no contract.
2. NATURAL –