object of a contract means

Objective Theory of Contract Law and Legal Definition Objective theory of contract is a doctrine which states that a contract is not an agreement in the sense of a subjective meeting of the minds. The object of the contract must be within the commerce of men, which means that it is legal and its ownership is transferable. The object of a contract must be lawful when the contract is made, and possible and ascertainable by the time the contract is to be performed. However, a contract is instead a series of external acts giving the objective semblance of agreement. Sample 1. Examples of this is the right of usufruct. 1596. 1597. The objective theory of contracts supersedes the previous standard, known as the subjective theory of contracts or “meeting of the minds,” that was commonly applied throughout the early 1800s. Section 23 declares what kinds of considerations and objects are not lawful. The object of a contract is the thing which it is agreed, on the part of the party receiving the consideration, to do or not to do. The object of every contract must be determinate as to its kind. In a general sense, all civil obligatio… Modification, A change or alteration in existing materials. How this is done can be illustrated by an example. The object of consideration of an agreement must be lawful, in order to make the agreement a valid contract, for, Section 10 lays down that all agreements” are contracts if made for lawful consideration and with a lawful object. The fact that the quantity is not determinate shall not be an obstacle to the existence of the contract, provided it is possible to determine the same, without the need of a new contract between the parties. A contract has, strictly speaking, nothing to do with the personal, or individual, intent of the parties. X enters into a contract to deliver 10 tons of coal of Y on a certain date. The object of the Law of Contract is to introduce definiteness in commercial and other transactions. One might, for example, object to the admission of particular evidence at a trial. 10/04, of 12 November 2004, and other applicable legislation, of the contractual relationship in the form of the Production Sharing Agreement between Sonangol and Contractor Group for carrying out the Petroleum Operations. 1. Contract, contract, in law, a promise, enforceable by law, to perform or to refrain from performing some specified act. A contract is an obligation attached by the mere force of law to certain acts of the parties, usually words, which ordinarily accompany and represent a known intent. Save. ARTICLE 1349. Based on 1 documents. Object Of A Contract CIVIL CODE SECTION 1595-1599 1595. Object As a verb, to take exception to something; to declare or express the belief that something is improper or illegal.As a noun, the thing sought to be accomplished or attained; aim; purpose; intention. 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