Characteristics of contracts

Contract is defined in the Civil Code as "a meeting of the minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service."[1] There are four characteristics of contracts: 

Obligatory force of contracts, that is, obligations arising from contracts have the force of law between the parties and should be complied with in good faith. [2]

Autonomy of contracts, that is, the contracting parties may establish such stipulations, clauses, terms and conditions as they may deem convenient, provided that they are not contrary to law, morals, good customs, public order, or public policy.[3]

Mutuality of contracts, that is, the contract must bind both contracting parties and the validity or compliance cannot be left to the will of one of them.[4]

Relativity of contracts, that is, contracts take effect only between the parties, their assigns and heirs, except in case where the rights and obligations arising from the contract are not transmissible by their nature, or by stipulation or by provision of law.[5]

[1] Art. 1305, NCC.
[2] Art. 1159, NCC.
[3] Art. 1306, NCC.
[4] Art. 1308, NCC.
[5] Art. 1311, NCC.