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!!
Save
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
https://quizlet.com/1127012689/les-305-clark-asu-exam-2-2026-actual-exam-questions-with-verified-answers-latest-update-2026-update-flash-cards/ 2/8
Les 305 Clark asu exam 2 2026 (Actual Exam)
Questions with verified Answers (Latest Update
2026) UPDATE!!
Save
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
https://quizlet.com/1127012689/les-305-clark-asu-exam-2-2026-actual-exam-questions-with-verified-answers-latest-update-2026-update-flash-cards/ 1/8
, 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
https://quizlet.com/1127012689/les-305-clark-asu-exam-2-2026-actual-exam-questions-with-verified-answers-latest-update-2026-update-flash-cards/ 2/8
