TRUE OR FALSE

1. Contracts involve at least two parties.

2. Meeting of the minds could happen unilaterally.

3. Contracts to be binding must always be in writing.

4. There are specific contracts that are required to be put in writing.

5. There can be no contract if there is no obligation and there can be no obligation when there is no contract.

6. Contracts must only involve one and only one obligation.

7. There are obligations that are not derived from contracts.

8. Meeting of the minds happens at the stage of negotiation in the life of a contract.

9. Performance of obligation happens at the stage of perfection in the life of a contract.

10.A contract of sale is a consensual contract.

11.An insurance contract is a contract of adhesion.

12.Any party to a contract can agree on any conditions so long as they are legal.

13. Nominate contracts are governed by the specific provisions of the law that govern them.

14.Innominate contracts may be governed by the general principles of obligations and contracts.

15. Any changes to the conditions governing a contract could be introduced by either party to the exclusion of the other.

16. As a rule, obligations are not transmissible.

17. Even if a right is transmissible if the parties to a contract agree that it is not transmissible, the right becomes non transmissible.

18. Contracts may be entered into to favor third persons.

19. A contract of mortgage once registered binds even a subsequent owner of a real property.

20.The terms and conditions of a contract become the law between the parties thereto.

you can take your time answering this. this is very important