Definition of contract
Contract is the meeting of the minds between two persons whereby one bind himself with respect to the other, to give something or to render some services.[1] There is no contract unless the following requisites concur: a) consent of the contracting parties; b) object certain which is the subject matter of the contract; and c) cause of the obligation which is established.[2] One of the sources of obligation is contracts. Obligations arising from contracts have the force and effect of law between the contracting parties.[3]
[1] Art. 1305, NCC.
[2] Art. 1318, NCC
[3] Art. 1159, NCC.
