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    Article 1159 Key Notes

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    Eliza Jayne Princess Vizconde
    Contracts arise from agreements between two or more parties and have the force of law between them. For a contract to be valid, it requires consent, a certain object that is the subject of the contract, and a cause for the obligation. Parties must comply with contracts in good faith, which means fulfilling obligations sincerely and honestly according to the terms without taking unfair advantage. If a party fails to comply with or fulfill their obligations from the contract, it results in a breach of contract.

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    Article 1159 Key Notes

    Uploaded by

    Eliza Jayne Princess Vizconde
    173 views1 page
    Contracts arise from agreements between two or more parties and have the force of law between them. For a contract to be valid, it requires consent, a certain object that is the subject of the contract, and a cause for the obligation. Parties must comply with contracts in good faith, which means fulfilling obligations sincerely and honestly according to the terms without taking unfair advantage. If a party fails to comply with or fulfill their obligations from the contract, it results in a breach of contract.

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    Contracts arise from agreements between two or more parties and have the force of law between them. For a contract to be valid, it requires consent, a certain object that is the subject of the contract, and a cause for the obligation. Parties must comply with contracts in good faith, which means fulfilling obligations sincerely and honestly according to the terms without taking unfair advantage. If a party fails to comply with or fulfill their obligations from the contract, it results in a breach of contract.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    173 views1 page

    Article 1159 Key Notes

    Uploaded by

    Eliza Jayne Princess Vizconde
    Contracts arise from agreements between two or more parties and have the force of law between them. For a contract to be valid, it requires consent, a certain object that is the subject of the contract, and a cause for the obligation. Parties must comply with contracts in good faith, which means fulfilling obligations sincerely and honestly according to the terms without taking unfair advantage. If a party fails to comply with or fulfill their obligations from the contract, it results in a breach of contract.

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    © All Rights Reserved
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    Article 1159 Key Notes:

    *Article 1159. Obligations arising from contracts have the force of law between the
    contracting parties and should be complied with in good faith
     Article 1159
    - Obligations arising from contracts, voluntary agreements
    - Meeting of minds between 2 or more persons – binds himself to give something or to render
    some service
     Contract
    *Binding Force – Contract must be valid and it cannot be valid if it is against the law.
    Essential Elements:
    (1) Consent of the contracting parties
    (2) Object certain which is the subject matter of the contract – To give, to do, not to do
     Valid Contract
    (3) Cause of the obligation which is established

    - It is not contrary to law, morals, good customs, public order and public policy
    - It is contrary to law, morals, good customs, public order, or public policy
     Invalid or Void Contract
    - In the eyes of law, a void contract does not exist. No obligations will arise.
    - violated by a party in whole or in part
     Breach of Contract
    - Party fails or refuses to comply, without legal reason or justification
    - Compliance or Performance: in accordance with the stipulation or terms of the contract
     Compliance in Good Faith
    or agreement
     Sincerity and Honesty - Prevent one party from taking unfair advantage over the other
    - Comply his obligation in accordance with the terms or stipulations in the contract or
     How should an obligor or debtor
    agreement;
    fulfill his contractual obligations?
    - Comply or fulfill his obligation the like a good father of a family

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