LAaw

1
http://www.scribd.com/doc/58742385/Defective-Contracts
2
http://www.legalmatch.com/law-library/article/void-vs-voidable-contract-lawyers.html
3
http://wiki.answers.com/Q/Example_of_unenforceable_contract
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Marielle Jane Curioso
AC 301 Irregular

(1)
Rescissible contract is a contract that has caused a particular damage to one of the
parties or to a 3
rd
person and which for equitable reasons may be set aside even if it is valid.
As to defect, there is damage or injury either to one of the contracting parties or to
third person. As to effect, it is considered valid and enforceable until they are rescinded by
a competent court. The action for rescission may prescribe but its not susceptible for
ratification. The rescission is a remedy granted by law to the contracting parties and
sometimes even to third person in order to secure reparation of damages caused them by a
valid contract, by means of the restoration of things to their condition in which they were
prior to the celebration of said contract. (8Manresa 748) As to who may assail the
contract, it may be assailed not only by a contracting party but even the third
person who is prejudiced or damaged by the contract. Example of it is contracts
entered in fraud of creditors.
Voidable contract is a contract in which the consent of one party is defective, either
because of want of capacity or because it is vitiated, but which contract is valid until set
aside by the competent court. It possess all the essential requisites of valid contract but one
of the parties is incapable of giving consent, or consent is vitiate by mistake, violence,
intimidation, undue influence of fraud. As to defect, there is vitiation of consent or legal
capacity of one of the contracting parties. As to effect, it considered valid until they
annulled by the competent court. The action for annulment or the defense of annulability
may be prescribed. It maybe assailed only by contracting parties directly or collaterally.
(2)
Some examples of voidable contracts are contracts entered into when one party was a
minor ( If a minor is bound he can void the contract, however if the bound party is an adult
he usually has to perform), contracts where one party was forced or tricked into entering it
and contracts entered when one party was incapacitated (drunk, insane, delusional).
Unenforceable contract is a contract that for some reason cannot be enforced, unless
it is ratified in the manner provided by law. Its either entered into without or in excess of
authority or do not comply with the statue of frauds or both of the contracting parties do
not possess the required legal capacity. As to defect, the contract is entered into in excess or
without any authority, or does not comply with the Statute of Frauds, or both contracting
parties are legally incapacitated. As to effect, it cannot be enforced by a proper action in
court. The corresponding action for recovery, if there was total or partial performance of the
unenforceable contract under No. 1or No. 3 of Art.1403 may be prescribed. It may be
assailed only by a contracting party directly or collaterally.
(3)
Example of it is a person
under the age of eighteen years is not considered competent to make a contract. It is
normally impossible to enforce a contract made against a minor. Other example is a
contract that deals with an illegal activity cannot be enforced. An agreement for one person
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to steal property in return for a payment from another cannot be enforced although the
existence of such a contract may well be used to help prove criminal offences.
Void or Inexistent contract is an absolute nullity and produces no effect, as if it had
never been executed or entered into. Its unenforceable by law. Even if one party breaches
the agreement, you cannot recover anything because essentially there was no valid
contract. As to defect, one or more of the essential requisites of a valid contract are lacking
either in fact or law. As to effect, as a general rule, do not produce any legal effect. The
action for declaration of nullity or inexistence or the defense of nullity or inexistence does
not prescribe. Its may subject to ratification. It may be assailed not only by a contracting
party but even by a third person whose interest is directly affected.
(4)
Some of its example
are contracts involving an illegal subject matter such as gambling, prostitution, or
committing a crime, contracts entered into by someone not mentally competent (mental
illness or minors), contracts that require performing something impossible or depends on an
impossible event happening, contracts that are against public policy because they are too
unfair and contracts that restrain certain activities (right to choose who to marry,
restraining legal proceedings, the right to work for a living, etc.).

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CONTRACT FOR THE SALE OF USED CAR

This is a contract made between the Seller, Niall James Horan, and the Buyer,
Marielle Jane Curioso, for the sale of Sellers
The vehicle is a red 2013 Bugatti Veyron with black leather interior and a sunroof.
It has the highest top speed of any roadster in the world with the Veyron Grand
Sport Vitesse, reaching on average a top speed of 408.84 km/h (254.04 mph) The
VIN number is 5627382739 and the odometer reads 167,000 as of March 14, 2011.
The date of sale is on October 03, 2013. Buyer agrees to pay to Seller the purchase
price of P 1,502,078 to be paid in March 26, 2014.
The car is sold AS IS. Seller makes no warranties about the condition of the car.
Seller will provide the Buyer with the vehicles title, a recent smog test report,
inspection, receipts from repairs and other miscellaneous notes.
________________________
Seller
Niall James Horan
________________________
Date

________________________
Buyer
Marielle Jane Curioso
________________________
Date

________________________
Witness
Harry Styles
________________________
Date

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