The document discusses Philippine law on obligations and contracts specifically regarding reformation of instruments under Articles 1359-1364. It states that a contract may be reformed through the courts if there was a mistake, fraud, or accident that caused the true intentions of the parties to not be expressed in the written instrument. It may also be reformed if one party was mistaken and the other acted fraudulently or inequitably. General principles of reformation are adopted unless they conflict with the code. The courts may order reformation if a drafting error caused the instrument to not express the true intentions.
Alejandro V. Tankeh, Petitioner, - Development Bank of The Philippines, Sterling Shipping Lines, Inc., Ruperto V. Tankeh, Vicente Arenas, and Asset PRIVATIZATION TRUST, Respondents
The document discusses Philippine law on obligations and contracts specifically regarding reformation of instruments under Articles 1359-1364. It states that a contract may be reformed through the courts if there was a mistake, fraud, or accident that caused the true intentions of the parties to not be expressed in the written instrument. It may also be reformed if one party was mistaken and the other acted fraudulently or inequitably. General principles of reformation are adopted unless they conflict with the code. The courts may order reformation if a drafting error caused the instrument to not express the true intentions.
The document discusses Philippine law on obligations and contracts specifically regarding reformation of instruments under Articles 1359-1364. It states that a contract may be reformed through the courts if there was a mistake, fraud, or accident that caused the true intentions of the parties to not be expressed in the written instrument. It may also be reformed if one party was mistaken and the other acted fraudulently or inequitably. General principles of reformation are adopted unless they conflict with the code. The courts may order reformation if a drafting error caused the instrument to not express the true intentions.
The document discusses Philippine law on obligations and contracts specifically regarding reformation of instruments under Articles 1359-1364. It states that a contract may be reformed through the courts if there was a mistake, fraud, or accident that caused the true intentions of the parties to not be expressed in the written instrument. It may also be reformed if one party was mistaken and the other acted fraudulently or inequitably. General principles of reformation are adopted unless they conflict with the code. The courts may order reformation if a drafting error caused the instrument to not express the true intentions.
WHEN, THERE HAVING BEEN A MEETING OF THE MINDS OF THE PARTIES TO A
CONTRACT, THEIR TRUE INTENTION IS NOT EXPRESSED IN THE INSTRUMENT PURPORTING TO EMBODY THE AGREEMENT, BY REASON OF MISTAKE, FRAUD, INEQUITABLE CONDUCT OR ACCIDENT, ONE OF THE PARTIES MAY ASK FOR THE REFORMATION OF THE INSTRUMENT TO THE END THAT SUCH TRUE INTENTION MAY BE EXPRESSED.
IF MISTAKE, FRAUD, INEQUITABLE CONDUCT, OR ACCIDENT HAS PREVENTED A
MEETING OF THE MINDS OF THE PARTIES THE PROPER REMEDY IS NOT REFORMATION OF THE INSTRUMENT BUT ANNULMENT OF THE CONTRACT. ARTICLE 1360
THE PRINCIPLES OF THE GENERAL LAW
ON THE REFORMATION OF INSTRUMENTS ARE HEREBY ADOPTED INSOFAR AS THEY ARE NOT IN CONFLICT WITH THE PROVISIONS OF THIS CODE. ARTICLE 1361
WHEN A MUTUAL MISTAKE OF THE PARTIES
CAUSES THE FAILURE OF THE INSTRUMENT TO DISCLOSE THEIR REAL AGREEMENT, SAID INSTRUMENT MAY BE REFORMED. ARTICLE 1362
IF ONE PARTY WAS MISTAKEN AND THE OTHER
ACTED FRAUDULENTLY OR INEQUITABLY IN SUCH A WAY THAT THE INSTRUMENT DOES NOT SHOW THEIR TRUE INTENTION, THE FORMER MAY ASK FOR THE REFORMATION OF THE INSTRUMENT. ARTICLE 1363
WHEN ONE PARTY WAS MISTAKEN AND THE
OTHER KNEW OR BELIEVED THAT THE INSTRUMENT DID NOT STATE THEIR REAL AGREEMENT, BUT CONCEALED THAT FACT FROM THE FORMER, THE INSTRUMENT MAY BE REFORMED. ARTICLE 1364
WHEN THROUGH THE IGNORANCE, LACK OF SKILL,
NEGLIGENCE OR BAD FAITH ON THE PART OF THE PERSON DRAFTING THE INSTRUMENT OR OF THE CLERK OR TYPIST, THE INSTRUMENT DOES NOT EXPRESS THE TRUE INTENTION OF THE PARTIES, THE COURTS MAY ORDER THAT THE INSTRUMENT BE REFORMED.
Alejandro V. Tankeh, Petitioner, - Development Bank of The Philippines, Sterling Shipping Lines, Inc., Ruperto V. Tankeh, Vicente Arenas, and Asset PRIVATIZATION TRUST, Respondents