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45 Cards in this Set

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Consent.
A contract is formed by the consent of the parties established through offer and acceptance.
Unless the law prescribes a certain formality for the intended contract, offer and acceptance may be made orally, in writing, or by action or inaction that under the circumstances is clearly indicative of consent.
Unless otherwise specified in the offer, there need not be conformity between the manner in which the offer is made and the manner in which the acceptance is made.
Vitiated consent.
Consent may be vitiated by error, fraud, or duress.
Good valid offer
firm; serious; and precise and capable. Consent must be on essential elements of the contract.
Irrevocable offer.
An offer that specifies a period of time for acceptance is irrevocable during that time.
When the offeror manifests an intent to give the offeree a delay within which to accept, without specifying a time, the offer is irrevocable for a reasonable time.
Acceptance only by completed performance.
When, according to usage or the nature of the contract, or its own terms, an offer made to a particular offeree can be accepted only by rendering a completed performance, the offeror cannot revoke the offer, once the offeree has begun to perform, for the reasonable time necessary to complete the performance. The offeree, however, is not bound to complete the performance he has begun.
The offeror's duty of performance is conditional on completion or tender of the requested performance.
Notice of commencement of performance
When commencement of the performance either constitutes acceptance or makes the offer irrevocable, the offeree must give prompt notice of that commencement unless the offeror knows or should know that the offeree has begun to perform.
Revocable offer.
An offer not irrevocable under Civil Code Article 1928 may be revoked before it is accepted.
Time when revocation is effective
A revocation of a revocable offer is effective when received by the offeree prior to acceptance.
Reception of revocation, rejection, or acceptance.
A written revocation, rejection, or acceptance is received when it comes into the possession of the addressee or of a person authorized by him to receive it, or when it is deposited in a place the addressee has indicated as the place for this or similar communications to be deposited for him.
Expiration of offer by death or incapacity of either party.
An offer expires by the death or incapacity of the offeror or the offeree before it has been accepted.
Expiration of irrevocable offer for lack of acceptance.
An irrevocable offer expires if not accepted within the time prescribed in the preceding Article.
Expiration of revocable offer.
A revocable offer expires if not accepted within a reasonable time.
Option contracts.
An option is a contract whereby the parties agree that the offeror is bound by his offer for a specified period of time and that the offeree may accept within that time.

Option K is K where the offerror agrees to hold open the offer on another K. It is fully heritable.
Offer of reward made to the public.
An offer of a reward made to the public is binding upon the offeror even if the one who performs the requested act does not know of the offer.
Reward; Performance by several persons.
Unless otherwise stipulated in the offer made to the public, or otherwise implied from the nature of the act, when several persons have performed the requested act, the reward belongs to the first one giving notice of his completion of performance to the offeror.
Revocation of an offer of reward made to the public.
An offer of reward made to the public may be revoked before completion of the requested act, provided the revocation is made by the same or an equally effective means as the offer.
Acceptance by performance.
When an offeror invites an offeree to accept by performance and, according to usage or the nature or the terms of the contract, it is contemplated that the performance will be completed if commenced, a contract is formed when the offeree begins the requested performance.
Acceptance by silence.
When, because of special circumstances, the offeree's silence leads the offeror reasonably to believe that a contract has been formed, the offer is deemed accepted.
Time when acceptance of an irrevocable offer is effective.
An acceptance of an irrevocable offer is effective when received by the offeror.
Time when acceptance of a revocable offer is effective.
Unless otherwise specified by the offer or the law, an acceptance of a revocable offer, made in a manner and by a medium suggested by the offer or in a reasonable manner and by a reasonable medium, is effective when transmitted by the offeree.
Reasonableness of manner and medium of acceptance
A medium or a manner of acceptance is reasonable if it is the one used in making the offer or one customary in similar transactions at the time and place the offer is received, unless circumstances known to the offeree indicate otherwise.
Reception of revocation, rejection, or acceptance.
A written revocation, rejection, or acceptance is received when it comes into the possession of the addressee or of a person authorized by him to receive it, or when it is deposited in a place the addressee has indicated as the place for this or similar communications to be deposited for him.
Acceptance not in accordance with offer.
An acceptance not in accordance with the terms of the offer is deemed to be a counteroffer.
Additional terms in acceptance of offer to sell a movable.
An expression of acceptance of an offer to sell a movable thing suffices to form a contract of sale if there is agreement on the thing and the price, even though the acceptance contains terms additional to, or different from, the terms of the offer, unless acceptance is made conditional on the offeror's acceptance of the additional or different terms.
Form contemplated by parties.
When, in the absence of a legal requirement, the parties have contemplated a certain form, it is presumed that they do not intend to be bound until the contract is executed in that form.
Error vitiates consent.
Error vitiates consent only when it concerns a cause without which the obligation would not have been incurred and that cause was known or should have been known to the other party.
Error that concerns cause.
Error may concern a cause when it bears on the nature of the contract, or the thing that is the contractual object or a substantial quality of that thing, or the person or the qualities of the other party, or the law, or any other circumstance that the parties regarded, or should in good faith have regarded, as a cause of the obligation.
Nullity of donation procured by fraud or duress.
A donation inter vivos or mortis causa shall be declared null upon proof that it is the product of fraud or duress.
Nullity of donation procured through undue influence.
A donation inter vivos or mortis causa shall be declared null upon proof that it is the product of influence by the donee or another person that so impaired the volition of the donor as to substitute the volition of the donee or other person for the volition of the donor.
Prescription of action.
Action of annulment of a relatively null contract must be brought within five years from the time the ground for nullity either ceased, as in the case of incapacity or duress, or was discovered, as in the case of error or fraud
Rescission; liability for damages.
A party who obtains rescission on grounds of his own error is liable for the loss thereby sustained by the other party unless the latter knew or should have known of the error.
The court may refuse rescission when the effective protection of the other party's interest requires that the contract be upheld. In that case, a reasonable compensation for the loss he has sustained may be granted to the party to whom rescission is refused.
Other party willing to perform.
A party may not avail himself of his error if the other party is willing to perform the contract as intended by the party in error.
Fraud may result from misrepresentation or from silence.
Fraud is a misrepresentation or a suppression of the truth made with the intention either to obtain an unjust advantage for one party or to cause a loss or inconvenience to the other. Fraud may also result from silence or inaction.
Silence is only fraud where the person had a duty to speak. ex. fiduciary relationships, attorney- client, doctor- patient
puffing is tolerated, a reasonable person would not believe puffing.
Fraud committed by a third person
Fraud committed by a third person vitiates the consent of a contracting party if the other party knew or should have known of the fraud.

the party injured in his interest may recover damages from the third person who committed the fraud.
Confidence between the parties
Fraud does not vitiate consent when the party against whom the fraud was directed could have ascertained the truth without difficulty, inconvenience, or special skill.
This exception does not apply when a relation of confidence has reasonably induced a party to rely on the other's assertions or representations.
Error induced by fraud.
Error induced by fraud need not concern the cause of the obligation to vitiate consent, but it must concern a circumstance that has substantially influenced that consent.
Proof. fraud
Fraud need only be proved by a preponderance of the evidence and may be established by circumstantial evidence. low burden.
Nature. duress/violence
Consent is vitiated when it has been obtained by duress of such a nature as to cause a reasonable fear of unjust and considerable injury to a party's person, property, or reputation.
Duress directed against third persons.
Duress vitiates consent also when the threatened injury is directed against the spouse, an ascendant, or descendant of the contracting party.
Duress by third person.
Consent is vitiated even when duress has been exerted by a third person.
Threat of exercising a right.
A threat of doing a lawful act or a threat of exercising a right does not constitute duress.
A threat of doing an act that is lawful in appearance only may constitute duress.
duress; Damages.
When rescission is granted because of duress exerted or known by a party to the contract, the other party may recover damages and attorney fees.
When rescission is granted because of duress exerted by a third person, the parties to the contract who are innocent of the duress may recover damages and attorney fees from the third person.
Contract with party in good faith.
A contract made with a third person to secure the means of preventing threatened injury may not be rescinded for duress if that person is in good faith and not in collusion with the party exerting duress.
Lesion.
A contract may be annulled on grounds of lesion only in those cases provided by law.
Rescission for lesion beyond moiety.
The sale of an immovable may be rescinded for lesion when the price is less than one half of the fair market value of the immovable. Lesion can be claimed only by the seller and only in sales of corporeal immovables.