iv. Consensuality

Consensuality of Contracts

Article 1315. Contracts are perfected by mere consent, and from that moment the parties are bound not only to the fulfillment of what has been expressly stipulated but also to all the consequences which, according to their nature, may be in keeping with good faith, usage and law. (1258) (CIVIL CODE, art. 1315)

CONCEPT AND COVERAGE

Contracts are perfected by mere consent and from that moment, the parties are bound not only to the fulfillment of what has been expressly stipulated but also to all consequences which according to their nature may be in keeping with good faith, usage and law. (Art. 1315, NCC)

Consensual contracts are perfected from the moment there is agreement (consent) on the subject matter, and the cause or consideration. (Paras, 2021)