Defective Contracts Perez

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  COMPARISON OF DEFECTIVE CONTRACTS Kinds of DefectiveContractNature of ContractBasis of DefectName of ActionPersons to FieEffect if SuccessfuPrescri!tive PeriodRatifia iit#Rescissi e Contracts Grounds:1.Contracts entered into in behalf of wards.2.Contracts agreedupon in representation of absentees.3.Contracts undertaken in fraud of creditors.4.Contracts which refers to things under litigation.5.Other instances: Partition !udicialor e tra!udicial.1.Contracts that are #alidl$ agreed upon because all the essential ele%ents e ist.&cono%ic da%age or pre!udice to one of the parties or to a third person. 'ction for (&)C*))*O+1.*n!ured part$ or defrauded creditor 2.,is heirs assigns or successors in interest3.Creditors of the abo#e entitled to subrogation.Contract is #alid and enforceable until rescinded b$ a co%petent court.1.2.4 $ears(escissible Contracts do not need to be ratified. Voida e Contracts Grounds:1.-egal incapacit$ to gi#e consent where one of the parties is incapable of gi#ing consent to the contract.2.iolation of consent where the #itiation is done b$ %istake#iolence inti%idation undue influence or fraud.1.Contracts which possess all the essential re/uisites of a #alid contract but one of the parties is incapable of gi#ing consent or consent is #itiated b$ %istake #iolence inti%idation undue influence or fraud.1.One of the parties is incapable of gi#ing consent.2.Consent is #itiated b$ %istake #iolence inti%idation undue influence or fraud. 'ction for '++0-&+Contracting parties onl$.Contract is #alid and enforceable until the$re annulled b$ a co%petent court.4 $ears1.oidable Contracts can be ratified.(atification e tinguishes the action to annul a #oidable contract. 'rt. 1326 $nenforcea e Contracts 7inds:1.hose entered into in the na%e of another b$ onewithout or actingin e cess of authorit$.2.hose that do notco%pl$ with the )tatute of 8rauds.3.hose where both parties are Contracts that cannot be enforced in court or sued upon b$ reason of certain defects pro#ided b$ law until and unless the$ are ratified according tolaw.-ack of for% authorit$ or capacit$ of both parties not cured b$ prescription. 'ction for (atificationhe corresponding action for reco#er$ *f there was total or partial perfor%ance of the unenforceable contract under no. 1 or no. 3 of 'rt. 1493 %a$ prescribe.Contracting parties onl$.Once ratified these contracts %a$ then be enforceable.+o Prescription.0nenforceable Contracts%ust be ratified to beco%e enforceable. atty.idamv   escolano . bl1.   incapable of gi#ing1. Void Contracts Grounds:1.Contracts whose cause ob!ect or purpose is contrar$ to law etc.2.Contracts which are absolutel$ si%ulated or fictitious.3.Contracts withoutcause or ob!ect.4.Contracts whose ob!ect is outside the co%%erce of %en.5.Contracts which conte%plate an i%possible ser#ice..Contracts where the intention of the parties relati#e to the ob!ect cannot be ascertained.;.Contracts e pressl$ prohibited or declared #oid b$ law.1.Contracts generall$ produce no effect at all because of certain defects.Caused b$ lack of essentialele%ents or illegalit$.1. 'ction or <efense for the declaration of its ine istence does not prescribe.1. he contracting parties2.' 3rd person whose interest is directl$ affected+o legal effect.+o Prescription.oid Contracts cannot be ratified. atty.idamv   escolano . bl1. 
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