Which of the following is an incorrect statement regarding rescinding a contract in the Philippines?

A) If consent is given through mistake,violence,intimidation,undue influence,or fraud,contracts are valid until they are annulled.
B) The period in which to annul a contract for mistake,violence,intimidation,undue influence,or fraud is four years.
C) In cases of intimidation,violence,or undue influence,the time period for annulling a contract is measured from the time the defect in the assent ceases.
D) In cases of mistake or fraud,the time period for annulling a contract is measured from the time of the discovery of the defect.
E) The law of the Philippines regarding contract rescission for mistake,violence,intimidation,undue influence,or fraud is the same as United States law.

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Ciara Scott · Accepted Answer

Final Answer : E, Explanation :  The law in the Philippines is somewhat unusual in the way it limits the time for rescinding a contract.In the Philippines,if consent is given through mistake,violence,intimidation,undue influence,or fraud,contracts are valid until they are annulled.The period within which to annul such a contract is four years.In cases of intimidation,violence,or undue influence,the time period is measured from the time the defect in the assent ceases.In cases of mistake or fraud,it is measured from the time of the discovery of the defect.

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