Explain Briefly. ( Law of Obligation and Contract)

Instruction:

Essay: The pertinent provision of law need not be cited in your answers.

13. Obligations arising from contracts have the force of law between the contracting parties and should be complied with in good faith. From perfection, the parties are bound not only to the fulfillment of what has been expressly stipulated but also to all the consequences which according to their nature, may be in keeping with good faith, usage and law. What is the principle herein referred? 14. (a) Will intoxication of either party render an offer ineffective before acceptance of the offer is conveyed? (b) Cite at least three instances that will render an offer ineffective before acceptance is conveyed. 15. (a) An offer made through an agent is accepted from the time the acceptance is communicated to the principal by the agent. If the statement is false, cite the reason why the statement is not correct. (b) Is the contract of agency and accessory contract? Justify your answer.16. (a) Business advertisements of things for sale are definite offers unless it appears otherwise. If the statement is false, cite the reason why the statement is not true. (b) Explain the following classification of contracts enumerated, then cite at least two examples: (1) principal contracts; (2) accessory contracts; (3) nominate contracts; and (4) preparatory contracts. 17. How are consent manifested in a contract? 18. Can a minor enter into a contract? If your answer is in the affirmative, how would a minor may validly do so? Explain. 19. What are the three essential requisites of a contract? Cite distinctions of the three essential requisites. 20. Is there a valid contract if the cause of the contract was not expressly stated in the instrument evidenceng the agreement? Explain