Les 305 Clark asu exam 2 questions with actual answers
2026\2027 A+ Grade
contract
- correct answer Enforceable by law
Oral contract
- correct answer May be enforcable
Statute of Frauds
- correct answer must be in writing
Bilateral Contract
- correct answer involves two promises and two performances
Unilateral Contract
- correct answer Involves 1 promise and 1 performance
Express Contract
- correct answer Parties knowingly and intentionally agree on promises and performances
Implied Contract
- correct answer Agreement reached by parties actions
Quasi Contract
- correct answer Agreement in legal friction and created by law to prevent unjust enrichment
Voidable Contract
- correct answer Party can cancel an otherwise valid contract due to circumstances
, Unenforceable Contract
- correct answer Considered valid (meets 4 elements) but at least one party has legal defense to
performing the contract
Hybrid Contracts
- correct answer Goods and services. Determines Predominant thrust of contract subject matter
Predominant Thrust
- correct answer 1. Examine allocation of price
2. Examine uniqueness of services
Valid contract 4 elements
- correct answer 1.mutual assent
2. Consideration
3. Capacity
4. Legality
Mutual assent
- correct answer meeting of the minds
Rose of aberlone case-barren cow
Seller had to rescind (cancel)
Cow was barren
offer
- correct answer Power of acceptance
Acceptance
- correct answer Typically in writing
Performance is the only way to accept
2026\2027 A+ Grade
contract
- correct answer Enforceable by law
Oral contract
- correct answer May be enforcable
Statute of Frauds
- correct answer must be in writing
Bilateral Contract
- correct answer involves two promises and two performances
Unilateral Contract
- correct answer Involves 1 promise and 1 performance
Express Contract
- correct answer Parties knowingly and intentionally agree on promises and performances
Implied Contract
- correct answer Agreement reached by parties actions
Quasi Contract
- correct answer Agreement in legal friction and created by law to prevent unjust enrichment
Voidable Contract
- correct answer Party can cancel an otherwise valid contract due to circumstances
, Unenforceable Contract
- correct answer Considered valid (meets 4 elements) but at least one party has legal defense to
performing the contract
Hybrid Contracts
- correct answer Goods and services. Determines Predominant thrust of contract subject matter
Predominant Thrust
- correct answer 1. Examine allocation of price
2. Examine uniqueness of services
Valid contract 4 elements
- correct answer 1.mutual assent
2. Consideration
3. Capacity
4. Legality
Mutual assent
- correct answer meeting of the minds
Rose of aberlone case-barren cow
Seller had to rescind (cancel)
Cow was barren
offer
- correct answer Power of acceptance
Acceptance
- correct answer Typically in writing
Performance is the only way to accept
