Practice question
For a privately negotiated equipment lease, the parties agree on exclusive laboratory use and monthly rent payable on the fifth day. The draft instead permits any use and omits the payment schedule. Which correction best reflects Articles 1643 and 1657 and the stated bargain?
- Replace rent with an optional donation
- Declare that the lessee owns the equipment on signing
- Leave the use unrestricted because agreed purpose never matters
- Identify the equipment, limit use to the agreed laboratory purpose, and state the fixed rent and fifth-day payment obligation
- Let an unidentified stranger invent every term later
Legal references
- Civil Code, Articles 1458, 1460, 1473, 1475, 1477–1478, 1643, 1654 and 1657: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
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