ADDURU, MICAH Y.

February 20, 2012

I. The following contracts are rescissible: a. Those which are entered into by guardians whenever the wards whom they represent suffer lesion by more than onefourth of the value of the things which are the object thereof; b. Those agreed upon in representation of absentees, if the latter suffer the lesion stated in the preceding number; c. Those undertaken in fraud of creditors when the latter cannot in any other manner collect the claims due them; d. Those which refer to things under litigation if they have been entered into by the defendant without the knowledge and approval of the litigants or of competent judicial II. The following contracts are voidable or annullable, even though there may have been no damage to the contracting parties: a. Those where one of the parties is incapable of giving consent to a contract b. Those where the consent is vitiated by mistake, violence, intimidation, undue influence or fraud. III. The following contracts are unenforceable, unless they are ratified: a. Those entered into the name of another person by one who has been given no authority or legal representation, or who has acted beyond his powers; b. Those that do not comply with the Statue of Frauds as set forth in this number. In the following cases, an agreement hereafter made shall be unenforceable by action, unless the same, or some note or memorandum thereof, be in writing, and subscribed by the party charged, or by his agent; evidence, therefore, of the agreement cannot be received without the writing, or a secondary evidence of its contents: i. An agreement that by its terms is not to be performed within a year from the making thereof; ii. A special promise to answer for the debt, default, or miscarriage of another; iii. An agreement made in consideration or marriage, other than a mutual IV.

BL101-1T TTH3:00-4:30
The following contracts are inexistent and void form the beginning: a. Those whose cause, object or purpose is contrary to law, morals, good customs, public order or public policy; b. Those which are absolutely simulated or fictitious; c. Those who cause or object did not exist at the time of the transaction; d. Those whose object is outside the commerce of men; e. Those which contemplate an impossible service; f. Those where the intention of the parties relative to the principal object of the contract cannot be ascertained g. Those expressly prohibited or declared void by law.

authority; e. All other contracts specially declared by law to be subject to rescission.

promise to marry; iv. An agreement for the sale of goods, chattels, or things in action, at a price not less than Five hundred pesos, unless the buyer accept and receive part of such goods and chattels, or the evidences, or some of them, of such things in action, or pay at the time some part of the purchase money; but when a sale is made by auction and entry is made by the auctioneer in his sales books, at the time of the sale, of the amount and kind of property sold, terms of sale, price, names of the purchasers and persons on whose account the sale is made, it is sufficient memorandum; v. An agreement for the leasing for a longer period than one year, or for the sale of real property or of an interest therein vi. A representation as to the credit of a third person c. Those where both parties are incapable of giving consent to contract.