COMPARATIVE TABLE OF DEFECTIVE CONTRACTS

NATURE OF DEFECT RESCISSIBLE VOIDABLE UNENFORCEABLE VOID

Valid and binding until
STATUS OF CONTRACT Valid & Enforceable, annulled by proper court Valid but unenforceable by Absolutely null and void
unless rescinded action action unless ratified
Declaration of absolute
REMEDY Rescission Annulment or Ratification nullity or inexistence
Ratificcation
4 years.
Guardianship: 4 yrs from 4 years.
PRESCRIPTIVE PERIOD termination of incapacity. Duress – from cessation No prescription No prescription
Absentee: 4 yrs from the MF – from discovery
time domicile is known MIG – from cessation of
incap
REAL PARTY IN INTEREST One of the parties or a Contracting party or Contracting party or third
third person Contracting party aggrieved party person
GROUNDS Object, cause, purpose
contrary to LMGcPoPp
Absolutely simulated or
fictitious
Art. 1381 – Lesion, in Incapable of giving Lack of prescribed form Cause or object did not
fraud of creditors, in consent Lack of authority exist at the time of
state of insolvency, Vitiated consent (Art. 1403) transaction
declared by law (Art. 1390) Object outside commerce
of man
Impossible service
Intention of the parties
cannot be ascertained
Expressly prohibited or
declared void by law
(Art. 1409)