TITLE II – CONTRACTS (Arts. 1305-1422) b.

Real
3. Cause
CHAPTER 1 – GENERAL PROVISIONS
a. Onerous
 Art. 1305. A contract is a meeting of minds b. Remuneratory or Renumerative
between two persons whereby one binds c. Gratuitous
himself, with respect to the other, to give 4. Form
something or to render some service. a. Informal, Common, or Simple
(1254a) b. Formal or Solemn
5. Obligatory Force
In a contracts, there must be a (a) meeting of minds a. Valid
between (b) at least 2 persons or parties. b. Rescissible
c. Voidable
Obligations vs. Contracts d. Unenforceable
Contract e. Void or Inexistent
- one of the sources of obligations (Art. 6. Person Obliged
1157) a. Unilateral
b. Bilateral
Obligation 7. Risks
- legal tie or relation itself that exists after a. Commutative
a contract has been entered into. b. Aleatory
8. Liability
There can be no contract if there is no a. Unilateral
obligation. Obligations may exist without a b. Bilateral
contract (ex. Obligations arising from law) 9. Status
a. Executory
Contracts vs. Agreement b. Executed
Contract 10. Dependence to Another Contract
- binding agreements enforceable through a. Preparatory
legal proceedings in case of non- b. Accessory
compliance of obligation. c. Principal
11. Dependence of Part of Contract to Other
Agreement Parts
- does not have all the elements of a a. Indivisible
contract b. Divisible
- does not create legally enforceable
obligations

All contracts are agreements but not all

agreements are contracts.

To be valid and enforceable, a contract must be:  Art. 1306. The contracting parties may
a. lawful; and establish such stipulations, clauses, terms
b. all requisites for its validity must be and conditions as they may deem
present. convenient, provided they are not contrary to
law, morals, good customs, public order, or
CLASSIFICATIONS OF CONTRACTS public policy. (1255a)
According to:
1. Form Valid Contracts are legally bindaing and
a. Nominate enforceable because it meets all the legal
b. Innominate requirements and limitations.
2. Perfection
a. Consensual
It is possible that an agreement may meet all criteria
valid contract however unenforceable in a court of
law for failure to comply with Statute of Frauds.