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A commodate (Latin: commodatum), also known as loan for use, [1] in civil law and Scots Law is a gratuitous loan; a loan, or free concession of anything moveable or immoveable, for a certain timeframe, on condition of restoring again the same individual after a certain time.
A mutuum was a loan for consumption. [1] It was the oldest contract in re, growing in importance after 326 BC when the lex Poetalia was passed. [5] It could be used by people without the right of commercium – a package of rights to participate in the ius civile and to undertake remedies. [6]
If the price of the hiring is not fixed, the contract is not locatio conductio, but affords grounds for an action praescriptis verbis. If the consideration for the hiring was not a sum of money, but a loan for use ( commodatum ) granted to the letter, then this was regarded not as a locatio , but as a transaction involving two loans, and an ...
In contract law, and in particular the requirement for consideration, if no fixed price is agreed upon for the service and/or materials, then one party would request a reasonable price for the said services and/or materials at the end of the job. A common example would be a plumber requested to fix a leak in the middle of the night. [10]
In contract law the contract price is a material term. The contract price is the price for the goods or services to be received in the contract. The contract price helps to determine whether a contract may exist. If the contract price is not included in the written contract, then upon litigation the court may hold that a contract did not exist.
Literal contracts (contractus litteris) formed part of the Roman law of contracts. Of uncertain origin, in terms of time and any historical development, they are often seen as subsidiary in the Roman law to other forms. They had developed by at the latest 100 BC, and continued into the Late Roman Empire.
The Philippines is a mixed law jurisdiction, shaped primarily by Spanish civil law and American common law as codified in the Philippine Civil Code. The Philippine Civil Code defines a contract as "a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service". [221]
Other forms of contracts between public and private entities, namely lease contract and management contract (in the water sector often called by the French term affermage), are closely related but differ from a concession in the rights of the operator and its remuneration. A lease gives a company the right to operate and maintain a public ...