Snow Mountain Dairy Corporation v. GMA Veterans Force, Inc.

Actual damages are not presumed. The claimant must prove the actual amount of loss with a reasonable degree of certainty premised upon competent proof and on the best evidence obtainable.

G.R. No. 192446, 19 November 2014

Complainant GMA Veterans Force, Inc. filed a Complaint for Damages against defendant Snow Mountain Dairy Corporation. Previously, complainant and defendant entered into a security service agreement whereby. Just after a month, defendant informed complainant that all of the latter’s security personnel would be replaced and all monies due in the contract will be settled. Continue reading here.

Owen Prosper A. Mackay v. Sps. Dana Caswell

If the work of a contractor has defects which destroy or lessen its value or fitness for its ordinary or stipulated use, he may be required to remove the defect or execute another work. If he fails to do so, he shall be liable for the expenses by the employer for the correction of the work.

G.R. No. 183872, 17 November 2014

Complainant Owen Prosper A. Mackay initiated a Complaint for Collection of Sum of Money with Damages against defendants Sps. Dana Caswell and Cerelina Caswell. Previously, defendants engaged the services of complainant and his group who obligated themselves to provide electrical installation service for P250,000.00 in the new home of the spouses. Continue reading here.

Essential Requisites to Perfect a Contract

In general, a contract is perfected only when all of the following requisites are present: (1) consent of the contracting parties; (2) object certain which is the subject matter of the contract; and (3) cause of the obligation which is established.

Consent is manifested by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. The offer must be certain and the acceptance must be absolute. If a party offers a qualified acceptance, the same is considered a counter-offer.

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Concept and Principles of Contract

A contract is 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 contracting parties are free to establish such stipulations, clauses, terms and conditions as they may deem convenient, provided they are not contrary to law, morals, good customs, public order, or public policy. This is the principle of autonomy.

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Sources of Obligations

There may be various sources of obligations, including moral, ethical, and legal. For the purpose of understanding business law, the focus is on legal obligations which may be enforced against another person through the regular courts.

There are five sources of legal obligations, namely: (1) law; (2) contracts; (3) quasi-contracts; (4) acts or omissions punished by law; and (5) quasi-delicts.[1]

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