...insolvency of the debtor; acceptance by the creditor of the cession and plurality of debts b. initiative for substitution must emanate from the old debtor; consent of the new debtor; acceptance by the creditor and old debtor must be released from his obligation c. must be intelligent, free, spontaneous and real; must be manifested by the concurrence of the offer and acceptance and parties must possess the necessary legal capacity d. creditor’s satisfaction; alienation of the debtor’s property to the creditor and pre-existing debt of money between the parties 2. It is a remedy where through written instrument, the parties can conform their real intention as when some error has been committed. a. prescription of instruments b. ratification of instruments c. reformation of instruments d. novation of instruments 3. These are contracts where in all the necessary elements for its legitimacy are present but the consent is rejected due to lack of legal capacity by one of the parties, violence, fraud, mistake or intimidation even though there may have been no damage to the contracting parties. a. Rescissible contracts b. Fraudulent contracts c. Voidable contracts d. Pending contracts 4. Which of the following scenarios exhibits Dolo Causante? a. A certain petroleum company allegedly mixed one quart of diesel for every four quarts of unleaded gasoline prior to deliver to its branches in Metro Manila. Thus their price of unleaded...
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...University LAW 200 (Business Law) Assignment 1 Submitted To: Barrister Arife Billah Lecturer, School of Business Date: 22 February, 2013 Submitted By: Arnab Paul ID: 1030818030 Section: 9 Title: The Law of Contract confines itself to the enforcement of voluntarily created civil obligations Abstract This assignment focuses to determine the relationship between the Law of Contract and voluntarily created civil obligations. It is intended to find out how contract law defines its scope within the enforcement of civil obligations. Civil obligations are raised from contracts, among several other sources of obligations. If the contracts are created voluntarily, the relevant obligations are thus voluntary. Since the contract law presumes that to create a contract there must be a common intention of the parties to enter into legal obligations, it is also assumed that the parties will enter into a contract voluntarily. When it comes to the discussion about civil obligations, contract law defines its boundary within the enforcement of civil obligations. This research paper was created with the motive to finding out how the contract law confines itself to the enforcement of civil obligations. Introduction We enter into contracts in our everyday general activities. Paying fare to the taxi driver amounts to entering into a contract. When you recharge your prepaid cell phone account, you have entered into a contract. You go to a restaurant and take snacks; you have entered into a contract. In...
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...‘The Law of Contract confines itself to the enforcement of voluntarily created civil obligations’-illustrate and explain. Rifatul Ahsan Yasdany ID: 102 0273 030 Law 200 Section-09 Date: 22-02-2013 Declaration i. The topic referred to in this assignment has not been submitted for another degree or qualification of this or any other University or other Educational Institution. And ii. The ownership of any Intellectual property rights, which may be described in this paper, is vested in the North South University, subject to any prior agreement to the contrary, and may not be made available for use by third parties without the written permissions of the University, which will prescribe the terms and conditions of any such agreement. Title: ‘The Law of Contract confines itself to the enforcement of voluntarily created civil obligations’-illustrate and explain. ABSTRACT This essay attempts to focus on the scope of the law of contract in relation to its enforcement capability of voluntarily created civil obligation. In an attempt to do so, the basic elements of the law of contract were discussed. Then attention was directed to civil obligation. Various interpretation of the civil law or obligation revealed its voluntary nature. Then in an attempt to create a link between the law of contract and civil obligation, both the concepts were related and it was found out that contract law did indeed enforce voluntary civil obligations. Finally, this view was countered...
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...2007-2008 |I. |Course Code |: |LAW 1 | |II. |Course Title |: |OBLIGATION AND CONTRACTS | |III. |Course Credit |: |3 units | |IV. |Course Description |: |This course deals with the basic principles of law in relation to contracts and obligations. It involves discussion of the nature, sources, kinds and extinguishments of contracts and | | | | |other miscellaneous topics relevant to the course. Topics include general legal concepts of enforceable rights of obligation: types of laws and national legal systems: nature, purpose,| | | | |scope and key principles of national legislation; sources of obligations; kinds of obligations under the Civil Code; specific circumstances affecting obligations in general (fortuitous| | | ...
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...CIVIL LAW REVIEWER TABLE of CONTENTS OBLIGATIONS Table of Contents Chapter II. Nature and Effect of Obligations93 I. Kinds of Prestations ............................93 II. Breach of Obligation............................94 III. Fortuitous Event (Force Majeure) .......96 IV. Remedies to Creditors ........................96 V. Usurious Transactions and Rules on Interest .........................................................97 Chapter III. Different Kinds of Obligations ..98 I. Pure and Conditional Obligations .......98 II. Reciprocal Obligations ......................100 III. Obligations with a Period ..................100 IV. Alternative and Facultative Obligations 101 V. Joint and Solidary Obligations ..........103 Effects of Prejudicial and Beneficial Acts (Art.1212) ...................................................105 VI. Divisible and Indivisible Obligations..106 VII. Oblligations with a Penal Clause ..106 Chapter IV. Extinguishment of Obligations .......................................................................107 I. Payment or Performance ..................107 II. Loss or Impossibility..........................109 III. Condonation or Remission of the Debt 109 IV. Confusion or Merger of Rights ..........110 V. Compensation ...................................110 VI. Novation ............................................111 Charts: Payment & Performance ................114 90 OBLIGATIONS Chapter I. General Provisions...
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...OBLIGATIONS AND CONTRACTS REVIEWER TITLE I – OBLIGATIONS CHAPTER 1 GENERAL PROVISIONS 1156. An obligation is a juridical necessity to give, to do, or not to do. JURIDICAL NECESSITY – juridical tie; connotes that in case of noncompliance, there will be legal sanctions. • • An obligation is nothing more than the duty of a person (obligor) to satisfy a specific demandable claim of another person (obligee) which, if breached, is enforceable in court. A contract necessarily gives rise to an obligation but an obligation does not always need to have a contract. KINDS OF OBLIGATION A. From the viewpoint of “sanction” - (a) CIVIL OBLIGATION – that defined in Article 1156; an obligation, if not fulfilled when it becomes due and demandable, may be enforced in court through action; based on law; the sanction is judicial due process (b) NATURAL OBLIGATION – defined in Article 1423; a special kind of obligation which cannot be enforced in court but which authorizes the retention of the voluntary payment or performance made by the debtor; based on equity and natural law. (i.e. when there is prescription of duty to pay, still, the obligor paid his dues to the obligee – the obligor cannot recover his payment even there is prescription) the sanction is the law, but only conscience had originally motivated the payment. (c) MORAL OBLIGATION – the sanction is conscience or morality, or the law of the church. (Note: If a Catholic promises to hear mass for 10 consecutive...
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...ATENEO CENTRAL BAR OPERATIONS 2007 Civil Law SUMMER REVIEWER OBLIGATIONS AND CONTRACTS • TITLE 1 - OBLIGATION • Art. 1156. An obligation is a juridical necessity to give, to do or not to do. (n) CHAPTER 1. – GENERAL PROVISIONS See Arts. 1156 - 1162 ELEMENTS OF AN OBLIGATION: 1. Active subject (obligee/creditor): one in whose favor the obligation is constituted 2. Passive subject (obligor/debtor): one who has the duty of giving, doing or not doing 3. Object: prestation; the conduct which has to be observed by the debtor/obligor REQUISITES 1. it must be licit (otherwise it is void) 2. it must be possible, physically and juridically (otherwise it is void) 3. it must be determinate or determinable (otherwise it is void) 4. it must have pecuniary value a. Vinculum Juris: juridical/legal tie; binds the parties to the obligation b. Causa (causa debendi/causa obligationes): why obligation exists SOURCES OF OBLIGATION Art. 1157. Obligations arise from: (1) Law; (2) Contracts; (3) Quasi-contracts; (4) Acts or omissions punished by law; and (5) Quasi-delicts. (1089a) forth CONTRACT (OBLIGATION EX CONTRACTU) • Must be complied with in good faith • it is the “law” between parties; —Adviser: Dean Cynthia del Castillo QUASI-CONTRACT (OBLIGATION EX QUASICONTRACTU) • Juridical relation resulting from lawful, voluntary and unilateral acts, which has for its purpose, the payment of indemnity to the end that no one shall be unjustly enriched or benefited at the expense of another. • Distinguished...
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...meaning of agreement and contract. According to section 2(a) "every promise on every set of promises forming the consideration for each other an agreement. It is fact an agreement is a proposal and its acceptance, by which two or more person or parties promises to do abstain from doing an act. But a contract according to section 2(h) of the Indian Contract Act, "An agreement enforceable by law is a contract. It is clear these definitions that the there elements of a contract ore (a) Agreement Contractual Obligation (b) Enforceability by Law. For Example: X invites his friend to tea and the latter accepts the invitation. This is a social agreement not a contract because it does not imply any legal obligation. We can say that (a) All contracts are agreements, (b) But all agreements are not contracts. (A) All Contracts are Agreements For a Contract to be there an agreement is essential; without an agreement, there can be no contract. As the saying goes, "where there is smoke, there is fire; for without fire, there can be no smoke". It could will be said, "where there is contract, there is agreement without an agreement there can be no contract". Just as a fire gives birth to smoke, in the same way, an agreement gives birth to a contract. Another essential element of a contract is the legal obligation for the parties to the contract, there are many agreements that do not entail any legal obligations. As such, these agreements cannot be called contracts. For Example: A gives...
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...Business Law Q.1. What is meant by discharge of contract? Discharge of contract relates to the circumstances in which the contract is brought to an end. Where a contract is discharged, each party is freed from their continuing obligations under the contract. A contract may be discharged in one of the following ways: * Discharge by Performance * Discharge by Breach * Discharge by Agreement * Discharge by Frustration Q.2. Discuss the various ways by which the contract may be discharged, with special reference to the doctrine of frustration. A contract becomes discharged through performance where both parties have fully performed their contractual obligations. If one party does not fully perform the contract this will amount to a breach of contract and the other party may have a claim for damages unless the contract has been frustrated. A further exception exists where a court is satisfied that substantial performance is present. The court may then award the contractually agreed price and deduct sums to reflect the amount not performed. Where one party freely agrees to accept partial performance, then a sum is payable for the work completed. The main focus is on free acceptance. Where a party is willing to perform and tries to tender performance but the other party does not accept the performance then the party seeking to tender performance is discharged from the contract and the non accepting party is liable in damages for non acceptance. Secondly...
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...2013 Aspects of Contract and Negligence for Business Aspects of Contract and Negligence for Business Table of Contents Introduction………………………………………………………………………………………4 Explain the importance of the essential elements require for the formation of a valid contract…………….5 Discuss the impact of different types of contract……………………………………………………………………………………5 Analyze terms in contracts with reference to their meaning and effect…………………………………………….…..6 Apply the elements of contract in given businesses scenarios……………………………………………………………….7 Apply the law on terms in different contracts……………………………………………………………………………………..…7 Evaluate the effect of different terms in given contracts……………………………………………………………………....8 Duty of care in the tort of negligence & Difference between liability in tort and contractual liability…….8 Explain the nature of liability in negligence……………………………………………………………………………………………9 The concept and elements of vicarious liability in business…………………………………………………………………..10 Apply the elements of the tort of negligence in business situations……………………………………………………..12 Apply the elements of vicarious liability in given business situations……………………………………………………12 Reference…………………………………………………………………………………………………………………………………………….13 Introduction The purpose of this report is to identify the aspects of Contract and Negligence for Business. Now days, the business environment is full of agreements between businesses and individuals. While oral agreements can be used...
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...INTRODUCTION This report focuses on the identification of the aspects of contract and negligence for business. There are agreements and contract in every business in recent than before. Verbal agreements are usually no longer used by the businesses. Written agreement in the form of contract is ore preferable to all. But, the profitability of contract is incomplete if the regulations and aspects are unknown. Well acknowledgement of contract in business provides a legal documentation securing the expectations of the parties involved. Contracts work as a safety tool of the resources. On the contrary, negligence is rising into the cornerstone of our system for compensating people for accidental damage and injuries. This is because it allows the courts to award damages in tort in some circumstances where it is not possible to do so in contract. This report will help learners to understand in and all about the contract formation and negligence of contract in businesses. LEARNING OBJECTIVES TASK 1 Understand the essential elements of a valid contract in a business context TASK 2 Be able to apply the elements of a contract in business situations TASK 3 Understand principles of liability in negligence in business activities TASK 4 Be able to apply the principles of liability in negligence in business situations. TASK 1 LO 1.1 Importance of the essential elements required for the formation of a valid contract Offer and Acceptance: The existence of an offer and an acceptance are...
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...Business Law Contract and negligence Done by: Name.............................................................................. College Id....................................................................... TABLE OF CONTENTS Question 1.1................................................................................page 3 Question 1.2................................................................................Page 3 Question 1.3.................................................................................Page 4 Question 2.1.................................................................................Page 4-5 Question 2.2.....................................................................................Page 5 Question 2.3......................................................................................Page 5 Question 3.1.......................................................................................Page 6 Question 3.2......................................................................................Page 6-7 Question 3.3........................................................................................Page 7 Question 4.2.........................................................................................Page 7-8 Question 4.3.....................................................
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...OBLIGATIONS AND CONTRACTS OBLIGATION- Art. 1156. An obligation is a juridical necessity to give, to do or not to do. CHAPTER 1. – GENERAL PROVISIONS Arts. 1156 –1162: ELEMENTS OF AN OBLIGATION: 1. Active subject (obligee/creditor)- one in whose favor the obligation is constituted; one who has the right to demand fulfillment of the obligation 2. Passive subject (obligor/debtor)-one who has the duty of giving, doing or not doing 3.Object or prestation-subject matter of the obligation; the obligation to give, to do, or not to do 4. Vinculum- juridical/legal tie; binds the parties to the obligation; reason why the obligation exists. REQUISITES 1. It must be licit (otherwise it is void) 2. It must be possible, physically and juridically (otherwise it is void) 3. It must be determinate or determinable(otherwise it is void) 4. It must have pecuniary value SOURCES OF OBLIGATION Art. 1157. Obligations arise from: (1) Law; (2) Contracts; (3) Quasi-contracts; (4) Acts or omissions punished by law; and (5) Quasi-delicts. LAW (OBLIGATION EX-LEGE) •Must be expressly or impliedly set forth and cannot be presumed CONTRACT (OBLIGATION EX CONTRACTU) •Must be complied with in good faith •It is the “law” between parties; •Parties may freely enter into any stipulation provided they are not contrary to law, morals, good customs, public order or public policy QUASI-CONTRACT (OBLIGATION EX QUASI-CONTRACTU) •Juridical...
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...1. General Conditions Under Article 1793 of the Civil Code for the Federal District and 7524 for the State of Mexico: “A kind of agreement that produces or transfers rights and obligations”. So we can say that a commercial contract is an agreement between two or more wills that creates or transfers rights and obligations of a commercial nature, an agreement of 2 or more wills on the production or transfer of rights and obligations, requiring that these wills have an outward manifestation with expressed or implied consent. Their legal nature is based on the presence of a dealer on any of the parties, due to its purpose being the industry, commerce or for the commercial mater of the object to which it refers. Article number 1794 (of the Civil Code for the Federal District) requires consent and an object in order for the contract to exist. Under articles number 1825 and 1826 the object must exist in nature, be determined or determinable and be in commerce (future objects may be subject of contracts as well). Usage and custom is defined as the result from the practice of traders so that they can become considered true law. Their uniform and continuous practice, make rules to be observed as existing law, but they cannot repeal mercantile laws themselves and be contrary to the principles of public policy. The practice is considered a source of DM autonomous and does not need the recognition of the legislator or judge, and changes to the wording of the new social needs. (Cco....
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...Two outstanding issues that could ensue are those of breach and frustration of a contract. A breach is an infraction of either the law or an obligation created through a contract (Bullon, 2003). A breach of contract arises when there is a violation of a contractual obligation through failure by a party to perform their own promise, or by repudiating the agreement, or even an interference with another party’s performance of their obligations (Garner, 2004). Breach of contract arises because Big Bank would be claiming that Systems Inc failed to honour their obligations within the agreed timelines. Frustration of a contract arises when the circumstances in which the contract is to be performed change very drastically out of certain unanticipated factors (Hodgin, 2006). When a contract is frustrated, the party seeking to rely on the frustration gets their duties discharged so that the contract becomes terminated (Jackson, 2006). The contract only becomes frustrated where it is demonstrated that its performance is impossible, as opposed to being onerous in nature as was so asserted in Paradine v Jane (1647) Aleyn 26; Sty 47. Frustration arises as a defense for Systems Inc because the company would be seeking to purge off the blameworthiness for Big Bank’s decision to rescind the contract. To prove this, it is highly probable that Systems Inc would point out the fact that the inability to change the data fields arose from the impossibility to contact Glenda Givealot who was...
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