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29 Cards in this Set
- Front
- Back
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Contract |
An agreement of wills by which one or several person's obligates themselves to one or several other person's to perform a prestation |
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Contract of Adhesion |
A contract of adhesion is a contract in which the essential stipulations were imposed or drawn up by one of the parties, on behalf or upon his instructions and are non-negotiable |
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Contract of mutual agreement |
- Negotiation of the terms between the two contracting parties
- a contract created obligations, and in some certain cases modifies or extinguishes them. In some cases, also has the effect of constituting, transferring, modifying or extinguishing rights Any contract that is not a contract of adhesion |
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Conditions of formation of contracts |
Two parties allowed by law (capable of contracting) to enter into an agreement (consent legally given) to do, give or exchange something (the object) for some reason or in exchange for something else (lawful cause or cause for consideration)
- consent - capacity to contract -cause of contract - object of contract
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Consent |
- Must have offer and acceptance - must be communicated in a way that is understood - can be made to a determinate or indeterminate person - must be made with genuine Intent - must be freely given - can be vitiated by error, lesion or fear
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Offer |
Offer: The exchange of consent is accomplished by the express or tacit manifestation of the will of a person to accept an offer to contract made to them by another person
An offer to contract is a proposal which contains all the essential elements of the proposed contract and in which offerer signifies his willingness to be bound if accepted
Derives from the person who initiates the contract or the person who determines consent is given, or the person who represents the last essential element of the proposed contract
May be made to a determinate or indeterminate person and a term for acceptance may or may not be attached to it |
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Revocation |
An offer may be revoked at anytime before the offer is accepted
Unless there is a term attached, then it may not be revoked before the term expires |
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Counter offer |
An offer is made and the person to whom it's made accepts it, but wants substantial changes to the conditions |
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Lesion |
Economic error on the value of prestation or a damage to the interests of a party to the contract
Cause of nullity only in cases with respect to minors or person's under protective supervision
Results from exploitation of such persons by those who are supposed to look after them |
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Prestation |
Performance of something due upon an obligation |
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When does lesion occur? |
When a minor or someone who is incapable of looking after their affairs: - cannot financially afford the object of contract even tho the price is fair - can afford it but the object is overvalued - cannot afford an overvalued object |
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Who has Capacity to contract? |
- full age/age of majority On attaining full age, a person ceases to to be a minor and has a full exercise of all civil rights |
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Cause of contract |
The reason that determines the party to enter a contract
- consideration
- must be within the law |
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Tainted or imperfect consent |
Error: error vitiates consent where it relates to the nature of the contract, the object of prestation or anything that is essential in determining that consent
Concealment or misrepresentation: when information relating to the contract has been concealed or misrepresented, and one party would not have made the contract on different terms had they know the facts Fear: vitiates consent where the fear of violence or threats exerted |
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Natural person vs legal person |
Natural person: Individuals Legal person: constituted groups of individuals such as corporations |
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Object of contract |
Must entail an obligation (not necessarily material)
Must be within the law |
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Null contract |
- to annul an contract is to void it; treat as if it never existed
- parties to contract must be put back in same legal or economic position as before they contracted
- nullity is retroactive
- relative nullity & absolute nullity
- any contract that does not meet conditions of its formation may be nulled |
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Relative nullity |
- voidable contract - can only be put forward by party law intended to protect (may be confirmed by injured party) - |
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Absolute nullity |
Void contract - treated as if it never existed - invoked by any person - may not be confirmed A contract is absolutely null when where conditions of formation sanctioned by it's null is necessary for the protection of the general interests |
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Interpretation of contract |
- intent of contract must be clearly stated - interpreted in common sense, taking the ordinary meaning of words, the circumstances and the nature of the contract into consideration - will be interpreted against the party who drafted the contract; will always favor consumer |
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Extinction of contract |
- payment - expiry of an extinctive term - novation - prescription - compensation - confusion - release - impossible to perform - discharge or a debtor |
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Extinction due to: payment |
Payment is understood as fulfillment of obligations |
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Extinction due to: Expiry of an extinctive term |
Obligations will be terminated by the expiration of any time limitations set by the contracting parties |
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Extinction due to: novation |
Replacement of obligations with new obligations |
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Extinction due to: prescription |
Expiration of any time period set by law |
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Extinction due to: compensation |
Two parties are mutually debtor & creditor to reach other. The debts are set of against each other and both debts are extinguished to the extent of the lesser one |
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Extinguished due to: confusion |
Debtor becomes own creditor or vice versa |
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Extinguished due: release |
Waiving the rights to demand performance or payment |
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Determinate vs indeterminate person |
Determinate: Particular individual Indeterminate: general group such as public at large |
