Obligation and Contracts

Topics: Contract, Law, Breach of contract Pages: 7 (674 words) Published: January 17, 2013
Colegio de San Juan de Letran

Intramuros, Manila

College of Business Administration and Accountancy
Accountancy Area
First Semester, School Year 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| | | | |events, frauds, negligence, delay and breach of contract); duties of obligor to do or not to do; extinguishment of obligation; general principles of the law of contracts, elements and | | | | |stages of contracts; freedom from contract and limitation; object of contracts; consideration of contracts; formalities; interpretations and reformation of contracts and defective | | | | |contracts. | |V. |Course Rationale |: |Real life situation expose every individual to different agreements entered into with other parties. It is essential therefore to know the basic principles of law related to contracts | | | | |and obligations. | |VII. |Course Objectives |: | | | |A. General Objective |: |At the end of the course, the students are expected to know the implications of obligations and contracts to their day- to-day living. | | |B. Specific Objectives |: |More specifically, the students are subjected to: | | | 1. Cognitive |: |Describe the nature and concept of obligations and contracts | | | | |Relate problems concerning obligations and contracts and the applicable laws....

References: |Journal of Accounting |
| | |Journal Accounting Research |
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