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O&c 11

Title II outlines the principles governing contracts, defining them as agreements between two parties to bind themselves to give or perform something. It emphasizes that contracts must be mutually binding, stipulations can be set by the parties as long as they comply with the law, and third parties may benefit under certain conditions. Additionally, it covers the enforceability of contracts, the role of third parties, and the necessity of authority in contract representation.

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9 views14 pages

O&c 11

Title II outlines the principles governing contracts, defining them as agreements between two parties to bind themselves to give or perform something. It emphasizes that contracts must be mutually binding, stipulations can be set by the parties as long as they comply with the law, and third parties may benefit under certain conditions. Additionally, it covers the enforceability of contracts, the role of third parties, and the necessity of authority in contract representation.

Uploaded by

Chamomile Tumasis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Title II-Contracts

• Art. 1305. A contract is a meeting of minds


between two persons whereby one binds
himself, with respect to other other, to give
something or to render some service.
• Art. 1306. The contracting parties may
establish such stipulations, clauses, terms and
conditions as they may deem convenient,
provided they are not contrary to law, morals,
good customs, public order, or public policy.
• Art. 1307. Innominate contracts shall be
regulated by the stipulations of the parties, by
the provisions of Titles I and II of this Book, by
the rules governing the most analogous
nominate contracts, and by the customs of the
place.
• Art. 1308. The contract must bind both
contracting parties, its validity or compliance
cannot be left to the will of one of them.
• Art. 1309. The determination of the
performance may be left to a third person,
whose decision shall not be binding until it has
been made known to both contracting parties.
• Art. 1310. The determination shall not be
obligatory if it is evidently inequitable. In such
case, the courts shall decide what is equitable
under the circumstances.
Art. 1311. Contracts take effect only between the parties,
their assigns and heirs, except in case where the rights and
obligations arising from the contract are not transmissible by
their nature, or by stipulation or by provision of law. The heir
is not liable beyond the value of the property he received
from the decedent.

If a contract should contain some stipulation in favor of a


third person, he may demand its fulfilment provided he
communicated his acceptance to the obligor before its
revocation. A mere incidental benefit or interest of a person is
not sufficient. The contracting parties must have clearly and
deliberately conferred a favor upon a third person.
• Art. 1312. In contracts creating real rights,
third persons who came into possession of the
object of the contract are bound thereby,
subject to the provisions of the Mortgage Law
and the Land Registrations laws.
• Art. 1313. Creditors are protected in cases of
contracts intended to defraud them.
• Art. 1314. Any third person who induces
another to violate his contract shall be liable
for damages to the other contracting party.
• Art. 1315. Contracts are perfected by mere
consent, and from that moment the parties
are bound not only to the fulfillment of what
has been expressly stipulated but also to all
the consequences which, according to their
nature, may be in keeping with good faith,
usage and law.
• Art. 1316. Real contracts, such as deposit,
pledge and commodatum, are not perfected
until the delivery of the object of the
obligation.
Art. 1317. No one may contract in the name of
another without being authorized by the latter, or
unless he has by law a right to represent him.

A contract entered into in the name of another by


one who has no authority or legal representation,
or who has acted beyond his powers, shall be
unenforceable, unless it is ratified, expressly or
impliedly, by the person on whose behalf it has
been executed, before it is revoked by the other
contracting party.

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