DEFECTIVE CONTRACTS

1.Name the kinds of defective contracts in the order of their defects

RESCISSIBLE CONTRACT

2.Define rescissible contract

3.What is the proper remedy in case ofrescissible ocntracts

4.Define rescission

5.May valid contracts be rescinded

6.What are the requisites of rescission

7.Which are the contracts considered rescissible

8.Give some cases where the contracts are specially declared by law to be subject to rescission

9.What is the nature of rescission as a remedy

10.If the rescission is ordered is the entire contract rescinded

11.What is the effect if rescission is ordered

12.If the object of the contract to be rescinded is in the hands of a third person who acted in good faith, may rescission be ordered

13.In cases of contracts entered into in behalf of a minor by the guardian or by the legal representative in the case of an absentee, have been approved by the court, could rescission be applicable

14.When are alienations by the debtor of his property presumed to be in fraud of creditors

15.What is meant by "Badges of Fraud"

16.If the object of the contract to be rescinded is in the hands of a third party who acted in bad faith can rescission be ordered

17.In case of two or more alienation in bad faith and the property cannot be recovered for any reason, who shall be liable for indemnity for damages

18.Within what time shall the action for rescission be brought

NOTE: Concise and precise answer will be highly appreciated.