Grounds Prescription Ratification

Rescissible contract 1. Entered by guardian; suffer Note: 4yrs from

lesion >1/4 of value termination of ward’s
2. Absentee; lesion >1/4 of incapacity
value
3. Fraud by creditor
Note: 4yrs from the
4. Under litigation
domicile of absentee is
5. Others declared by law known
6. Payment in state of
insolvency when obligation Others: 4years
could not be compelled

Voidable 1. Incapable of giving consent 4years from, Expressly or impliedly

2. Vitiated consent (mistake,  defect of consent (execute an act which
violence, intimidation, undue ceases necessarily implies an
 discovery intention to waive his
influence, fraud)  guardianship ceases right)

Effected by guardian or
injured party
Unenforceable 1. no authority or beyond his
powers
2. both incapable of giving Express of implied rati by 1
consent (by guardian) parent or guardian (becomes
as if one is only
3. Statute of frauds
incapacitated)
 Not to be performed w/n 1yr
 Special promise to answer for
debt, default or miscarriage Promise to answer: ratified
by failure to object to the (1)
 Consideration of marriage
presentation of oral evidence
 500 or more or (2) acceptance of benefit
 Lease >1yr
 Representation as to the credit of
a 3rd Person

Void 1. Cause/object contrary to NONE NONE

LMCPP
2. Absolutely simulated/fictitious
3. Cause/object did not exist at
the time of the transaction
4. Outside of commerce of men
5. Impossible service
6. Intention cannot be
ascertained
7. Prohibited by law