Forms of contract oblicon
What are the kinds of simulation of contract? 1. Absolute – the contracting parties do not intend to be bound by the contract at all, thus the contract is void.. 2. Relative – the real transaction is hidden; the contracting parties conceal their true agreement; binds the parties to their real agreement when it does not prejudice third persons or is not intended for any purpose contrary to When, there having been a meeting of the minds of the parties to a contract, their true intention is not expressed in the instrument purporting to embody the agreement, by reason of mistake, fraud, inequitable conduct or accident, one of the parties may ask for the reformation of the instrument to the end that such true intention may be expressed.