Professional Documents
Culture Documents
legal consequences and a legal relationship consisting of the rights and duties of
the contracting parties, and also a promise or set of promises constituting an
agreement between the parties that gives each a legal duty to the other and also
the right to seek remedy for the breach of those duties.
Contract have four elements are required:
1. The consent of the parties
To be valid the parties must consent to the basic matters contained in the
agreement. A contract may be valid even though consent was obtained by:
a. Duress: any mental intimidation not approved by law.
b. Mistake: a misapprehension to a subject matter or person in the
formation of the agreement
c. Fraud: an overt act performed by one of the parties prior to the
formation of the agreement with the intention to deceive the other party
and induce him into concluding which he would not otherwise has
concluded.
In such situation there is said to be consent, and therefore a valid contract,
even though the consent obtained is suspicious manner. However, a
contract thus obtained is voidable, upon application by; the victim of
duress, mistake or fraud
2. A capacity to contract
For this capacity all persons are legally capable of entering contracts,
except:
a. Minors (person under 21 years of age). There is presently a difference
of opinion whether the coming age is becoming 21 years or 18 years.
b. Persons placed under guardianship
Further more, contracts concluded by either of these categories of persons
can be annulled by a court law, upon application of incapable party or his
Conditional Contract
Special Contract
a. Sales Contract
b. Hire Purchase Contract
c. Contract of Installment Purchase
d. Contract of Lease
e. Surety Contract
f. Agency
Termination:
Several ways in which a mandate can be extinguished:
1) Revocation by the principal
2) Renunciation by the mandatory (penolakan)
3) Death of the principal or agent
4) Bankruptcy of principal or agent
5) Interdiction of principal or agent (pemutusan)
6) Marriage of a female principal or agent
Commercial Mandates:
1) Commercial Agent Generally:
- Commercial agent is any person who makes a business of acting as an
intermediary, or entering into contracts for the order of and on behalf on a
principal
- Commercial agent is entitled to compensation as soon as the contract is
concluded, unless performance of the contract is made a condition of payment
in the mandate
not subrogate to the rights of the creditor. Valid payment : the debtor (the payer)
should be the owner of the goods given in payment. Subrogation can only be
effected by consent of the debtor or by stipulation of the law in special cases.
Payment Method
To whom the payment is made : -to the creditor
-to the person who is authorized by the
creditor.
-to the person who is authorized by the
judge.
Where: - place where is agreed in the contract
- place where the object is kept when the contract takes place.
- At the creditors place
- At the debtors place.
When: