LAW ON CONTRACTS NOTES

ESSENTIAL REQUISITES OF CONTRACTS (1318) MASTERMINDCPA

ART. 1318. There is no contract unless the following requisites concur:
1. Consent of the contracting parties
2. Object certain which is the subject matter of the contract;
3. Cause of the obligation which is established.
A. ESSENTIAL ELEMENTS – kapag wala ito, walang contract. Kapag ang contract ay may kulang
na element, ito ay inexistent and void.
a. Common (comunes) – meron sa lahat ng contract. (Consent, object, cause)
b. Special (especiales) – may mga contracts lang na meron nito, hindi lahat.
c. Extraordinary or peculiar (especialisimos) – Kakaiba o special lang siya sa isang
specific contract.
B. NATURAL ELEMENTS – nakukuha lang siya based sa kung ano ‘yung nature ng contract.
Mostly, presumed by law. Ex. Warranty against eviction (hindi pwedeng bawiin ang nabili)
and warranty against hidden defects (kapag may sira).
C. ACCIDENTAL ELEMENTS – Ito ‘yung mga pinag-uusapan ng parties para ma-modify ‘yung
terms ng contract. Ex. Place and manner of performance.