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Browse our 20 legal questions about Contract in Philippines and the lawyer answers, or ask your own questions for free.
Contract law in Makati City, much like in the rest of the country, is guided by the Civil Code of the Philippines, which outlines the rules and regulations governing contracts. Generally, it recognizes a contract as a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service. The binding nature of a contract ensures parties involved are legally obligated to fulfill their responsibilities as per the agreed terms. As a prime business hub, Makati City frequently encounters contractual disputes needing legal resolution.
Engaging a lawyer can be crucial in several circumstances. If you're entering into a contract for business partnerships, employment, property lease or purchase, having a lawyer can help ensure your interests are protected. Another instance is when you feel your contractual rights have been violated, a lawyer can provide appropriate legal remedies. You may also need a lawyer to help you understand complex contract terminologies, advise on rights and responsibilities, interpret clauses, or guide you in case of a contract breach.
The Civil Code of the Philippines prevails in Makati City and it primarily governs contracts. It stipulates that contracts must be mutually consensual, for a lawful objective, and entered voluntarily by legally capable parties. It also addresses issues of breach of contract, nullification, and rescission. The Code further stipulates that contracts must adhere to the principles of mutuality, relativity, autonomy, and consensuality. Other local laws such as the Revised Makati Revenue Code may also apply depending on the nature of the contract.
In the Philippines, a legally binding contract must have the consent of the contracting parties, a certain and definite object or subject matter, and a lawful cause or consideration.
In case of a breach of contract, remedies available under Philippine law include fulfillment of the obligation, rescission or cancellation of the contract, and claims for damages.
Terminating a contract is generally subject to the terms of that contract. Some facilitate termination under certain circumstances, others may require mutual consent or involve penalties.
Notarization is not typically required for a contract to be enforceable. However, it adds a layer of security as it certifies the authenticity of the signatures involved.
While it is possible to draft a contract without a lawyer, doing so could risk overlooking important legal considerations. Consulting a lawyer ensures the contract is comprehensive and legally sound.
The Philippine Judicial Academy, Integrated Bar of the Philippines, and the Philippine Dispute Resolution Center, Inc. can provide further information and resources on contract law in the Philippines. Additionally, the Makati City Legal Department can also provide assistance and information relevant to local Makati City ordinances and laws.
If you need legal assistance in contract matters, it is recommended to consult a lawyer or a legal firm specializing in contract law. They can provide advice tailored to your situation, and guide you through the process of drafting, reviewing, negotiating, executing, and enforcing a contract. Make sure to bring all relevant documents during your consultation and be ready to discuss the details of your case or need.
