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Article 1159 Key Notes

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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Eliza Jayne Princess Vizconde
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543 views1 page

Article 1159 Key Notes

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.

Uploaded by

Eliza Jayne Princess Vizconde
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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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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