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Transcript

ART 1407

UNENFORCEABLE CONTRACT BECOMES A VOIDABLE CONTRACT

UNENFORCEABLE: both parties to a contract are incapable of giving consent

VOIDABLE: if the parent/ guardian, as the case may be, of either party, or if one of the parties after attaining/ regaining capacity, ratifies the contract

In a contract where both parties are incapable of giving consent, express or implied ratification by the parent, or guardian, as the case may be, of one of the contracting parties shall give the contracts the same effect as if only one of them were incapacitated.

UNENFORCEABLE CONTRACT BECOMES A VALID CONTRACT

If the ratification is made by the parents/ guardians; as the case may be, of both parties,

or by both contracting parties after attaining or regaining capacity, the contract is validated and

its validity retroacts to the time it was entered into.

If ratification is made by the parents or guardians, as the case may be, of both contracting parties, the contract shall be validated from the inception.

ART. 1408

Unenforceable contracts cannot be assailed by third persons.

RIGHT OF THIRD PERSONS TO ASSAIL AN UNENFORCEABLE CONTRACT:

Strangers to a voidable contract cannot bring an action to annul the same; neither can they assail or question contract because of its unenforceability.

The benefit of the Statute can only be claimed or waived by one who is a party/ privy to the oral contract, NOT BY A STRANGER.

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