Determine whether each statement is true or false and give a short explanation why is it true/false.

1.The principle of liberty of contracts means that contracts are perfected by mere consent and from that moment, the parties are bound.

2.Relativity of contracts means that the contract binds both the contracting parties.

3.In real contracts, the delivery of the subject is required to extinguish the obligation.

4.Formality prescribed by law or stipulation is an essential element of a real contract.

5.Real contracts are not subject to the principle of consensuality of contracts because delivery of the object perfects the contract.

Determine whether each statement is true or false and give a short explanation why is it true/false.

1.The principle of autonomy of contract means, mere consent of the parties automatically perfects the contract.

2.In contract of donation of a real property, the contract must be notarized for it to be perfected.

3.In stipulation pour atrui, the thirds person to whom the stipulation favors is required to perform the obligation of the contract to receive favour embodied in the stipulation.

4.Real contracts means written contracts, because it is the real contract, not just mere agreements of the parties.

5.Because of the principle of autonomy of contracts, the contracting parties can agree on anything under the sun, even the sale of the sun.

two scenarios embodying consensual, real and contracts and identify each of its essential elements.