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Last updated 8:25 AM on 9/2/26
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14 Terms

1
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1305

Contract

A contract is a meeting of minds whereby one binds himself to give something or render some service in favor of another.

2
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1306

Freedom of Contract

Parties may establish terms and conditions they deem convenient, provided these are not contrary to law, morals, good customs, public order, or public policy.

3
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1307

Innominate Contracts

Contracts without a particular name are governed by the parties' stipulations, applicable Civil Code provisions, analogous contracts, and customs.

4
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1308

Mutuality of Contracts

The validity or compliance of a contract cannot be left to the will of only one of the parties.

5
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1309

Third-Person Determination

The determination of performance may be entrusted to a third person, whose decision becomes binding once made known to both parties.

6
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1310

Unreasonable Determination

A third person's determination is not binding when it is manifestly inequitable; the courts may decide what is equitable.

7
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1311

Relativity of Contracts

Contracts generally bind only the parties, their assigns, and heirs, except where rights or obligations are non-transmissible or otherwise provided by law.

8
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1311

Stipulation Pour Autrui

A third person may demand fulfillment of a stipulation made in his favor when the required conditions are present.

9
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1312

Contracts Affecting Third Persons

In certain cases, third persons may be affected by contracts as provided by law.

10
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1313

Fraud of Creditors

Creditors are protected against contracts intended to defraud them.

11
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1314

Tortious Interference

A third person who induces another to violate a contract may be liable for damages.

12
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1315

Consensual Contracts

Contracts are generally perfected by mere consent.

13
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1316

Real Contracts

Real contracts are perfected only upon delivery of the object.

14
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1317

Unauthorized Contracts / Representation

No one may contract in another's name without authority or legal representation; an unauthorized contract is unenforceable unless ratified.