Caibigan, Vince

De Guzman, Angelu

Contracts
November 25,
Article 1305 2022
A contract is a meeting of minds
between two persons whereby one
binds himself, with respect to the other,
to give something or to render some
service.
meaning of
contract
The article gives the definition of contract. It lays emphasis on
the meeting of minds between two (2) contracting partises which
takes place when an offer by one (1) party is accepted by the
other. In a contract, one (1) or more persons bind himself or
themselves with respect to another or others, or reciprocally, to
the fulfillment of an obligation to give, to do, or to render
service or to refrain from dooing some particular thing.
 In a contract, there must
number be at least two (2)
of 01. persons or parties,
because it is impossible
parties for one to contract with
to a himself.

contract

A single person may

create a contract by
02. himself where he
represents distinct
interests.
contract
and Contract is the one of the source
obligation of obligation. On the other hand,
obligation is the legal tie or
distinguished
relation itself that exists after a
contract has been entered into.
Hence, there can be no contract if
there is no obligation accepted in
return for some benefit to be enjoyed.
But an obligation may exist without a
contract such as the obligation
imposed by law to pay taxes.
Contracts are binding agreements
enforceable through legal proceedings in
case the other party does not comply with his
obligation under the agreement. To be valid contract
and enforceable, a contract must be lawful
and all the requisites for in validity must be
and
present. agreements
Those agreements which cannot be enforced distinguished
by action in the courts of justice are not
contracts but merely moral or social
agreements. An agreement is broader than a
contract because the former may not have all
the elements of a contract that create legally
enforceable obligations.

So, all contracts are agreements but not all

agreements are contracts.
classification
of contract
Contracts may be categorized in various ways depending on the
characteristics in them which is emphasized.
according to
name or
designation

(a) Nominate

(b) Innominate
according to
perfection

(a) Consensual

(b) Real
according to
cause

(a) Onerous

(b) Remuneratory or remunerative

(c) Gratuitious
 according to
form

(a) Informal, common, or simple

(b) Formal or solemn

according to
obligatory
force
(a) Valid
(b) Rescissible
(c) Voidable
(d) Unenforceable
(e) Void or inexistent
 according to
person obliged

(a) Unilateral

(b) Bilateral
(a) Commutative (e.g., sale,
lease), when the undertaking of
one party is considered the
According
equivalent of that of the other; to risks
(b) Aleatory (e.g., insurance,
sale of hope), when it depends
upon an uncertain event or
contingency both as to benefit
or loss.
(a) Unilateral (e.g.,
commodatum, gratuitous According
deposit), when it creates an to
obligation on the part of only liability
one of the parties;

(b) Bilateral (e.g., sale, lease),

when it gives rise to reciprocal
obligations for both parties.
(a) Executory, when it has not
According
yet been completely
performed by both parties;
to status

(b) Executed, when it has been

fully and satisfactorily carried
out by both parties.
(a) Preparatory (e.g., agency,
partnership), when it is entered into as a According
means to an end;
to
(b) Accessory (e.g., mortgage, guaranty), dependence
when it is dependent upon another to another
contract it secures or guarantees for its
existence and validity; contract
(c) Principal (e.g., sale, lease), when it
does not depend for its existence and
validity upon another contract but is an
indispensable condition for the
existence of an accessory contract.
(a) Indivisible (or entire) (e.g., sale According
of a dining table and 8 matching
to
chairs), when each part if the
contract is dependent upon the
dependence
other parts for satisfactory of part of
performance; contract to
other parts
(b) Divisible (e.g., sale of rocking
chair and a pair of shoes), when
one part of the contract may be
satisfactorily performed
independently of the other parts.
Thank
you!