Dear PAO,How can one say there is a valid contract? JuliaDear Julia,The New Civil Code of the Philippines specifically provides for the essential requisites to a valid contract, to wit:"Art. There is no contract unless the following requisites concur:"(1) Consent of the contracting parties;"(2) Object certain which is the subject matter of the contract;"(3) Cause of the obligation which is established." As to the second requisite, object, the Code entails that it must be determinate as to its kind. All things which are not outside the commerce of men, including future things, may be the object of a contract.

Source: Manila Times October 02, 2021 16:15 UTC