PLMUN CONTRACTS Q2

A ____ 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.

• contract

• agreement

• loan

• obligation

____ Elements – those which the parties voluntary agree (e.g. terms of payment, conditions, time & place of delivery etc.)

• accidental

• temporary

• basic

• essential

____ Elements – consent, object and cause.

• accidental

• temporary

• basic

• essential

Stipulations should be contrary to law, morals, good customs, public order, or public policy.

• TRUE

• FALSE

• SURE

• MAYBE

A promise of marriage where carnal knowledge is the consideration of the promise as being contrary to morals. The contract is ___.

• VALID

• VOID

• MAYBE

• SURE

Sale of land covered by a homestead patent within the 5-year prohibitory period, as being contrary to law. The Contract is _____.

• VALID

• VOID

• MAYBE

• SURE

2 aspects: (1) freedom to decide whether or not one should enter into contractual relationship at all; (2) freedom to stipulate upon whatever terms the parties wish and agree.

• Autonomy of Contracts

• Obligatory Force

• Mutuality of Contracts

• Consensuality of Contracts

The contract must bind both contracting parties; its validity or compliance cannot be left to the will of one of them.

• Autonomy of Contracts

• Binding Effect of a Contract

• Mutuality of Contracts

• Consensuality of Contracts

Principle flows from legal tie .

• Autonomy of Contracts

• Binding Effect of a Contract

• Mutuality of Contracts

• Consensuality of Contracts

Contracts take effect only between parties, their assigns and heirs.

* Transmissible/ transferrable.

• Autonomy of Contracts

• Binding Effect of a Contract

• Privity/Relativity of Contracts

• Consensuality of Contracts