Law 001

In: Business and Management

Submitted By GlendaG05
Words 284
Pages 2
| Rescissible Contracts | Voidable Contracts | Unenforceable Contracts | Void or Inexistent Contracts | 1. As to defect | caused by injury/damage either to one of the parties or a 3rd person | defect is caused by vices of consent | caused by lack of form, authority or capacity of both parties not cured by presciption | caused by lack of essential elements or illegality | 2. As to effect | valid and enforceable until rescinded by a competent court | valid and enforceable until they're annulled by a competent court | can't be enforced by a proper action in court | no legal effect, as a general rule | 3. As to prescription to declare nullity | action for prescription can prescribe | action for annulment or defense of annulability can prescribe | corresponding action for recovery if there was total or partial performance of the unenforceable contract under no. 1 or 3 Art. 1403 of the Civil Code may prescribe | no prescription for a declaration of nullity, inexistence or defense of nullity | 4. As to curative effect of prescription | can be cured by prescription | can be cured by prescription | can't be cured by prescription | can't cured by prescription | 5. As to ratificatiom | don't need to be ratified | can be ratified | can be ratified | can't be ratified | 6. As to who can assail/question/attack | not just the contracting parties, but also a 3rd person who is prejudiced or damaged by the contract | only a contracting party | only a contracting party | not just the contracting parties, but also a 3rd person whose interest is directly affected | 7. As to direct or collateral attack | direct attack only | can be attacked both directly and collaterally | can be attacked both directly and collaterally | can be attacked both directly and collaterally…...

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