Limitation and effect on a revocable contract

Abstract

A contract is one of the sources of obligation, which is the consent of two or more wills, to achieve a certain legal effect. This effect may be the creation, transfer, modification or termination of an obligation. Therefore, judicial protection is achieved by several means, the most important of which is the judicial action. On this basis, the legislation has been put in place to implement certain regulations that must be observed: such as the necessity of taking consideration the duration, that mean the necessity of instituting a case within a specified period. Arranged to exceed the fall of the right to a lawsuit which is called (statute of limitations), The system is based on several considerations designed to protect the public benefit through respect for stable conditions. The supreme authority has the task of providing judicial protection of rights, but this protection is not eternal, because this situation will negatively affect the stability of society. On this basis, the legal systems decided to set the time limit necessary to provide such protection through the adoption of the statute of limitations, and the legislation differed in relation to this theory, whether in the name or duration and then the effects of the expiration of that period. Since the contract has basic elements based on it - satisfaction, place and reason - to produce the legal effect that is intended to be concluded, it was necessary that these pillars are present and properly listed, especially if the law requires its existence in a certain form, What is difficult contract in its corners and the way it is called and void in terms of the effects of a defect in one of the pillars of the contract, And the invalidity as a result of the existence of defect struck the contract in one of its different corners depending on the type of defect that hit any of the pillars of the contract, the contract has corners of the meeting if one of them or suffered a defect that generates a state of absolute nullity that eliminates and erases any existence of the contract, As well as in the case of a defect in the terms of validity of the contract, which result in the invalidity of less severe than the precedent is the relative effects that can be overcome, which is called avoidability.