Oblicon

Art. 1305 – A contract is a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.
Classifications of contract: 1. According to name or designation: * Nominate contract – has a specific name or designation in law. ( lease, agency, sale ) * Innominate contract – has no specific name or designation in law. ( I give that you may do ) ( I do that you may give ) ( I do that you may do ) 2. According to perfection: * Consensual contract – perfected by mere consent. * Real contracts – perfected by the delivery of the thing subject matter of the contract. * Solemn contracts – which requires compliance with certain formalities prescribed by law. ( donation ) 3. According to cause: * Onerous – the parties are reciprocally obligated to each other. * Remuneratory or remunerative – to reward the service that had been previously rendered by the party remunerated. * Gratuitous – the cause of which is the liberality of the benefactor or giver. ( pure donation ) 4. According to form: refers to the manner in which a contract is executed or manifested. * Informal or common contract * Formal or solemn contract 5. According to person obliged: * Unilateral – only one party is obliged to comply with a prestation. * Bilateral – when both parties are mutually bound to each other. 6. According to dependence to another contract: * Preparatory – entered into as a means to an end. ( agency, partnership ) * Accessory – dependent upon another contract for its existence and validity. ( mortgage, guaranty ) * Principal – does not depend for its existence and validity upon another contract but is an indispensable condition for the existence of an accessory contract. ( sale, lease ) 7. According to risks: * Commutative – when one party is considered the equivalent of that of the other. ( sale, lease ) * Aleatory -