Object 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]

The object of the contract is its subject matter.[3] It is the thing, right or service which is the subject matter of the obligation arising from the contract.[4] The object of the contract can be all things or services, which includes future things.[5] In order that a thing, right, or service may be the object of a contract, it should be in existence at the moment of the celebration of the contract, or at least, it can exist subsequently or in the future.

For a thing to be the object of the contract it must be:

a) within the commerce of men[6];

b) not legally or physically impossible[7];

c) in existence or capable of coming into existence[8]; and

d) determinate or determinable, without the need of a new contract between the parties.[9]

[1] Article 1305, Civil Code.

[2] Article 1318, Civil Code. 

[3] Paragraph 2, Article 1318, Civil Code.

[4] Tolentino. Obligations and Contracts. 

[5] Article 1347, Civil Code.

[6] Id.

[7] Article 1348, Civil Code.

[8] Articles 1461, 1493 and 1495, Civil Code.

[9] Article 1460, Civil Code.