Common Distinction of Contracts

Topics: Contract, Voidable, Unenforceable Pages: 3 (861 words) Published: May 15, 2013
OBLIGATIONS & CONTRACT| Academic Year 2012-2013|
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| RESCISSIBLE CONTRACTS| VOIDABLE CONTRACTS| UNENFORCEABLE CONTRACTS| VOID OR INEXISTENT CONTRACT| 1. As to Defect| Damage to a party or to third person| Vitiation of Consent| Without or in excess of authority, or does not comply with the Statute of Fraud, or both parties are incapacitated| Absolute or lack of essential requisite in fact or in law| 2.As to effect| Valid until rescinded| Valid until annulled| Cannot be enforced by court action| Does not produce effects| 3.As to nature of remedy| Rescission – a mere remedy| Annulment – not only a remedy but a sanction| Cannot be enforced by court action| Absolute nullity or inexistence – not only a remedy but a sanction| 4. As to basis of remedy| Equity – therefore, public interest predominates| Law – therefore, private interest predominates| xxx| Law – therefore, private interest predominates| 5. As to grounds| Article 1381. The following contracts are rescissible:(1) Those which are entered into by guardians whenever the wards whom they represent suffer lesion by more than one-fourth of the value of the things which are the object thereof;(2) Those agreed upon in representation of absentees, if the latter suffer the lesion stated in the preceding number;(3) Those undertaken in fraud of creditors when the latter cannot in any other manner collect the claims due them;(4) Those which refer to things under litigation if they have been entered into by the defendant without the knowledge and approval of the litigants or of competent judicial authority;(5) All other contracts specially declared by law to be subject to rescission. (1291a)| Article 1390. The following contracts are voidable or annullable, even though there may have been no damage to the contracting parties:(1) Those where one of the parties is incapable...
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