DEFINITION
RESCISSIBLE CONTRACTS Those Those validly validly agreed agreed upon because all essential elements exist
DEFECT/S
Damage or injury to one of the parties or to a third person
GROUNDS
(Art 1381) 1. LESION OR PREJUDICE a) Entere Entered d into into by guardians/representatives whenever the wards/absentees wards/absentees whom they represent suffer lesion by more than ¼ of the value of the thing b) Partition of inheritance where an heir suffers lesion of at least ¼ of the share to which he is entitled. 2. FRAUD OR BAD FAITH a) Those undertaken in fraud of creditors when the latter latter cannot cannot in any other other manner manner collect collect the claims due to them. b) Those which refer to things things under under litigation litigation if they have been been entered entered into by the defendant without the knowledge and approval of the litigants or the competent court. 3. SPECI SPECIAL AL CASES CASES governed governed by special special provisions (Arts. 1189, 1191, 1526, 1534, 1538, 1542, 1556, 1560, 1567, and 1659) Assailable by party or third person
ASSAILABILITY BY THIRD PERSONS EFFECT PRESCRIPTION RATIFICATION REMEDY REQUISITES
VALI VALID D until ntil resc resciinde nded 4 years (1389) Cann annot be Rati Ratifi fied ed RESCISSION 1.Contract is valid 2.Ther 2.There e is lesi lesion on// pecuniary prejudice
3.
No other remedy 4.Object not in
legal legal
VOIDABLE CONTRACTS Thos Those e whic which h poss ossess ess all essential requisites but one of the the part partie ies s is inca incapa pabl ble e of giving consent Viti Vitia ation tion of consent or one of the parties is incapacitated
UNENFORCEABLE CONTRACTS Those that cannot be enforced in court or sued upon by reason of defects provided by law
VOID/INEXISTENT CONTRACTS Those Those which which because because certain certain facts, produce no effect at all
Without or in excess of authority authority,, or does not comply with the Statute Statute of Frauds, Frauds, or both parties are incapacitated
Absolute lack either in fact or in law law of one, one, some some,, or all all essentia essentiall requisite requisites s of a contract; prohibited by law; N/V
Assai Assailab lable le party only
Assailabl Assailable e by party party only
Assailable by party or third person who is directly affected
Cannot be enforced by court action No prescription May be Rati Ratifi fied ed RATI RATIFI FICA CATI TION ON
Does not produce effects
by
VALID LID until ntil annulled 4 years (1391) May be Rati Ratifi fied ed ANNULMENT; RATIFICATION 1.Knowledge 1.Knowledge of the reason why cont contra ract ct is voidable 2.Injured party must’ve
1.Those entered entered into in the name of another 2.Those that don’t don’t comply comply with the Statute of Fraud
No prescription (1410) Cann annot be Rati Ratifi fied ed Decla Declara rati tion on of Abso Absolu lute te Nulli Nullity ty or Inexistence 1.Contracts 1.Contracts whose whose COC, purpose contrary to law 2.Simulated/Fictitious 3.Contracts w/o COC 4. Contracts prohibited prohibited by law
REQUISITES
KINDS OF CONTRACT
possession of another 5.Period to file
(1381) 1.Those entered into by guardians whenever the wards suffer lesion by more than ¼ of the value of the thing 2.Representatives of absentees 3.Those undertaken in fraud of creditors when the latter can’t collect the dues 4. Thing under litigation entered into w/o knowledge of it 5.Contracts specially declared by law to be subject to ratification
executed an act which implies his waiver (1390) 1. Those where one of the parties is incapable of giving consent
2.Those where the consent is vitiated by Mistake, Violence, Intimidation, Undue Influence, Fraud
3.Those wherein both parties are incapable of giving (1403[1][2][3]) 1.Those entered into in the name of another by one without, or acting in excess, of authority 2.Those who do not comply with the Statute of Frauds 3.Those where both parties are incapable of giving
(1409) 1.Contracts whose cause, object or purpose is contrary to law, etc 2.Simulated/Fictitious 3.Those w/o cause or object 4.Contracts whose object is outside the commerce of men 5. Contracts which contemplate an impossible service 6.The intention of the parties relative the object can’t be ascertained 7.Contracts expressly prohibited/declared void by the law
