Dizon, Christopher John T.

6:30

LAW001

RESCISSIBLE
CONTRACTS

VOIDABLE
CONTRACTS

DEFINITION

Thosevalidly
agreed
upon because all
essential
elements exist

Thosewhich
possess all
essential
requisites but
one of the
parties
is
incapable of
giving consent

DEFECT/S

Damage or injury to
one
of the parties or to a
third
person

Vitiation of
consent or one
of the parties
is
incapacitated

GROUNDS

(ART 1381)

1. LESION OR
PREJUDICE
a) Entered into by
guardians/
representatives
whenever the
wards/absentees
whom they
represent suffer
lesion by more than
of the value of the
thing
b) Partition of
inheritance where an
heir suffers lesion of
at least of the
share to which he is
entitled
2. FRAUD OR BADD

UNENFORCE
ABLE
CONTRACTS
Those that
cannot be
enforced in
court or sued
upon by
reason
of
defects
provided by
law
Without or in
excess of
authority, or
does not
comply with
the Statute of
Frauds, or
both
parties
are
incapacitated

MWF/5:30VOID/INEXISTE
NT CONTRACTS
Those which
because certain
facts, produce no
effect at all

Absolute lack
either in fact or
in law of one,
some, or all
essential
requisites of a
contract;
prohibited by
law

ASSAILABILI
TY BY THIRD
PERSONS

FAITH
a) Those undertaken
in fraud of creditors
when the latter
cannot in any other
manner collect the
claims due to them.
b) 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 the
competent court.
Assailable by the
Assailable by
party or third person party only

EFFECT

Valid until rescinded

Valid until
annulled

PRESCRITIO
N
RATIFICATIO
N
REMEDY

4 years

4 years

Cannot be Ratified

May be
Ratified
Anullment;
Ratification

REQUISITES

1. Contract is valid
2. There is
lesion/pecuniary
prejudice
3. no other legal
remedy
4. object not in legal
possession of
another
5. Period to file

Rescission

1. Knowledge
of
the reason
why
contract is
voidable party
2. Injured
mustve
executed an
act
whichimplies
his waiver

Assailable by
party only

Cannot be
enforced by
court action
No
prescription
May be
Ratified
Ratification

Assailable by
party or third
person who is
directly affected
Does not
produce effects
No prescription

Cannot be
ratified
Declaration of
Absolute Nullity
or Inexistence
1. Those
1. Contracts
entered into
whose COC,
in the name of purpose contrary
another
to law
2. Those that
2.Simulated/
dont comply
Fictitious
with the
3. Contracts
Statute of
without COC
Fraud
4. Contracts
3. Those
prohibited by law
wherein both
parties are
incapable of
giving

KINDS
OF
CONTRACTS

1. Those entered
into by
guardians whenever
the
wardssuffer lesion
by
more than of
the
value of the thing
2. Representatives of
Absentees
3. Those undertaken
in
fraud of creditors
when
the latter cant
collect
the dues
4. Thing under
litigation
Entered into without
knowledge of it
5. Contracts
specially
declared by law to
be
subject to ratification

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

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

1. Contracts
whose cause,
object or purpose
is contrary
to law, etc
2.Simulated/
Fictitious
3. Those without
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 cant be
ascertained
7. Contracts
expressly
prohibited/
declared void by
the law