1. Concept Article 1316. Real contracts, such as deposit, pledge and commodatum, are not perfected until the delivery of the object of the obligation. (n) “Real contracts”– refer to contracts wherein delivery of the object is required in order to be perfected. [C]ontracts, other than real contracts are perfected by mere consent which is manifested…
1. Concept Article 1315. Contracts are perfected by mere consent, and from that moment the parties are bound not only to the fulfillment of what has been expressly stipulated but also to all the consequences which, according to their nature, may be in keeping with good faith, usage and law. (1258) Contracts are perfected by…
1. Concept Article 1311. Contracts take effect only between the parties, their assigns and heirs, except in case where the rights and obligations arising from the contract are not transmissible by their nature, or by stipulation or by provision of law. The heir is not liable beyond the value of the property he received from…
1. Concept Article 1308. The contract must bind both contracting parties; its validity or compliance cannot be left to the will of one of them. (1256a) 1) The principle of mutuality of contracts is embodied in Article 1308 of the Civil Code. (Pabalan v. Sabnani, En Banc, Per Concurring Opinion of Caguioa, J.) 2) Mutuality…
1. Concept Article 1307. Innominate contracts shall be regulated by the stipulations of the parties, by the provisions of Titles I and II of this Book, by the rules governing the most analogous nominate contracts, and by the customs of the place. (n) 1) Innominate – means “having no name: unnamed. (Merriam-Webster Online Dictionary) 2)…
1. Concept Article 1306. The contracting parties may establish such stipulations, clauses, terms and conditions as they may deem convenient, provided they are not contrary to law, morals, good customs, public order, or public policy. (1255a) 1) Under the principle of autonomy of contracts, parties to an agreement are allowed to establish such stipulations, clauses,…
1. Concepts Article 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. (1254a) Related provision: Article 1318. There is no contract unless the following requisites concur: (1) Consent of the contracting parties; (2) Object certain which…