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8 Cards in this Set

  • Front
  • Back
Freedom of parties.
Parties are free to contract for any object that is lawful, possible, and determined or determinable.
Possible or impossible object
A contractual object is possible or impossible according to its own nature and not according to the parties' ability to perform.
Object determined as to kind.
The object of a contract must be determined at least as to its kind.
The quantity of a contractual object may be undetermined, provided it is determinable.
Output or requirements.
The quantity of a contractual object may be determined by the output of one party or the requirements of the other.
In such a case, output or requirements must be measured in good faith.
Quality of thing to be given.
When the performance consists of giving a thing that is determined as to its kind only, the obligor need not give one of the best quality but he may not tender one of the worst.
Obligation or performance by a third person.
The object of a contract may be that a third person will incur an obligation or render a performance.
Stipulation for a third party
A contracting party may stipulate a benefit for a third person called a third party beneficiary.
Revocation.
The stipulation may be revoked only by the stipulator and only before the third party has manifested his intention of availing himself of the benefit.
If the promisor has an interest in performing, however, the stipulation may not be revoked without his consent.