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Grounds Prescription Ratification: Rescissible Contract

The document outlines different types of contracts under Philippine law and their corresponding prescription periods. It discusses rescissible contracts such as those entered by guardians that suffer significant financial damage. It also covers voidable contracts where consent is defective, such as those involving minors, and unenforceable contracts where authority is lacking, like those that violate the statute of frauds. Void contracts are also mentioned, which are invalid from the beginning and have no prescription period, such as those with objectives against law, morality, or public policy.

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Glad Ys
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64 views1 page

Grounds Prescription Ratification: Rescissible Contract

The document outlines different types of contracts under Philippine law and their corresponding prescription periods. It discusses rescissible contracts such as those entered by guardians that suffer significant financial damage. It also covers voidable contracts where consent is defective, such as those involving minors, and unenforceable contracts where authority is lacking, like those that violate the statute of frauds. Void contracts are also mentioned, which are invalid from the beginning and have no prescription period, such as those with objectives against law, morality, or public policy.

Uploaded by

Glad Ys
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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GROUNDS PRESCRIPTION RATIFICATION

Rescissible contract 1. Entered by guardian; suffer Note: 4yrs from termination


lesion >1/4 of value of ward’s incapacity
Note: 4yrs from the domicile
2. Absentee; lesion >1/4 of
of absentee is known
value
3. Fraud by creditor
4. Under litigation
Others: 4years
5. Others declared by law
6. Payment in state of
insolvency when obligation
could not be compelled

Note:
1. implied in reciprocal obligation 10 years (written contract)
2. if rescission is stipulated (1592) 10 years (written contract)
3. creditor’s act the debtor cannot ---
make a choice in Alternative
obligations
4. sale of real property (>1/10 lesion) 6months from delivery
Voidable 1. Incapable of giving consent 4years from, Expressly or impliedly
2. Vitiated consent (mistake,  defect of consent (execute an act which
violence, intimidation, undue ceases necessarily implies an
 discovery intention to waive his
influence, fraud)  guardianship ceases right)

Effected by guardian or
injured party
Unenforceable 1. no authority or beyond his Statutes of fraud
powers applies only to an
2. both incapable of giving executor contract and Express of implied rati by 1
not to contract partially parent or guardian (becomes
consent (by guardian)
or totally consummated as if one is only
3. Statute of frauds
incapacitated) – Voidable
 Not to be performed w/n 1yr
 Special promise to answer for
debt, default or miscarriage Promise to answer: ratified
by failure to object to the (1)
 Consideration of marriage
presentation of oral evidence
 500 or more or (2) acceptance of benefit
 Lease >1yr
 Representation as to the credit of
rd
a 3 Person

Void 1. Cause/object contrary to NONE NONE


LMCPP
2. Absolutely simulated/fictitious
3. Cause/object did not exist at
the time of the transaction
4. Outside of commerce of men
5. Impossible service
6. Intention cannot be
ascertained
7. Prohibited by law

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