Quick Answer: Can Rights Be The Object Of Sale?

What is the object in a contract of sale?

An object (subject matter) is a thing, service, or right that constitutes the prestation of an obligation in a contract.

It could be anything that is within the commerce of men, either present or future..

What are the rights as object of contract?

All things which are not outside the commerce of men, including future things, may be the object of a contract. All rights which are not intransmissible may also be the object of contracts. No contract may be entered into upon future inheritance except in cases expressly authorized by law.

What is the object of obligation?

Because the object of an obligation is owed the performance, that person or entity has a right to it, and when an obligation has an object, obligations and rights are reciprocal: if someone has a right to your ing, then you have an obligation to; and if you have an obligation to someone to, then that someone has a …

What is a Resolutory condition?

RESOLUTORY CONDITION. On which has for its object, when accomplished, the revocation of the principal obligation; for example, I will sell you my crop of cotton, if my ship America does not arrive in the United States, within six months.

What is the object of a contract?

The object of a contract is the thing which it is agreed, on the part of the party receiving the consideration, to do or not to do. 1596. The object of a contract must be lawful when the contract is made, and possible and ascertainable by the time the contract is to be performed.

What is the object and what is the cause in a contract of sale?

The thing or the object of the contract of sale is a bilateral or reciprocal contract which is the cause for one is the subject matter or object for the other, and vice versa.

What are the 7 elements of a contract?

Seven essential elements must be present before a contract is binding: the offer, acceptance, mutual assent (also known as “meeting of the minds”), consideration, capacity, and legality. Contracts are typically in writing and signed to prove all of those elements are present.

What are the 4 elements of a valid contract?

Key elements of a contract. For a contract to be valid, it must have four key elements: agreement, capacity, consideration, and intention.

What is forbidden by law?

1] Forbidden by Law When the object of a contract or the consideration of a contract is prohibited by law, then they are not lawful consideration or object anymore. They then become unlawful in nature. … Unlawful consideration of object includes acts that are specifically punishable by the law.

What is Resolutory period?

“resolutory period” – period upon the arrival of which the obligation terminates Obligation with a Period. “Obligations with a resolutory period take effect at once, but terminate upon arrival of the day certain.” – Article 1193, Civil Code Obligation with a Period.

What is positive condition?

A positive condition in the law refers to an event that is to take place in order for a condition to be met, as opposed to the non-occurrrence of an event, which would be a negative condition. For example, “if I have children'” is a positive condition and “if I don’t have childen” is a negative condition.

What is casual condition?

A casual condition is one which depends upon a chance. A casual condition is not within the control of either party to a contract. The casual condition is that which depends on chance, and in no way in the power either of the creditor or of the debtor.