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Les 305 Clark asu exam 2 2026 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!!

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Les 305 Clark asu exam 2 2026 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!!

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1/4/26, 1:51 PM Les 305 Clark asu exam 2 2026 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!! Flashcards | Quizlet

Les 305 Clark asu exam 2 2026 (Actual Exam)
Questions with verified Answers (Latest Update
2026) UPDATE!!

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Terms in this set (75)

contract Enforceable by law

Oral contract May be enforcable

Statute of Frauds must be in writing

Bilateral Contract involves two promises and two performances

Unilateral Contract Involves 1 promise and 1 performance

Express Contract Parties knowingly and intentionally agree on
promises and performances

Implied Contract Agreement reached by parties actions

Quasi Contract Agreement in legal friction and created by law to
prevent unjust enrichment

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, 1/4/26, 1:51 PM Les 305 Clark asu exam 2 2026 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!! Flashcards | Quizlet

Voidable Contract Party can cancel an otherwise valid contract due to
circumstances

Unenforceable Contract Considered valid (meets 4 elements) but at least
one party has legal defense to performing the
contract

Hybrid Contracts Goods and services. Determines Predominant
thrust of contract subject matter

Predominant Thrust 1. Examine allocation of price
2. Examine uniqueness of services

Valid contract 4 elements 1.mutual assent
2. Consideration
3. Capacity
4. Legality

Mutual assent meeting of the minds
Rose of aberlone case-barren cow
Seller had to rescind (cancel)
Cow was barren

offer Power of acceptance

Acceptance Typically in writing
Performance is the only way to accept

Mailbox Rule Governs common law contracts and determines
when offer is accepted

Terminating an Offer Revocation, rejection, counteroffer, operation of
law

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Les 305 Clark asu exam 2 2026 (Actual Exam) Questions with verified Answers (Latest Update 2026) UPDATE!!

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