Obligations and Contract Law
General contract law
Understand formation (offer and acceptance), the requirement of cause and object, defects of consent (error, fraud, threat, undue influence), and the consequences of invalidity, rescission, and non-performance. Know the remedies: performance in kind, damages, penalty clauses, and termination for breach.
Contract types relevant to practice
Focus on sale, exchange, donation, lease, loan, mandate, and security contracts. Know which require notarial form and which require only written form. Understand the rules on earnest money, on the seller's liability for defects, and on the protection of the buyer of a dwelling.
Traps and a rule of thumb
Traps: confusing nullity with voidability and their limitation periods; assuming a penalty clause excludes damages; and forgetting that a donation of immovable property requires notarial form while a promise of donation does not bind in the same way. Also watch questions on assignment of claims and on the effect of a contractual prohibition on assignment.
Rule of thumb: for any obligation question, identify (1) the type of contract, (2) the required form, (3) the defect, and (4) the remedy and its limitation period.