LES 305 CLARK ASU EXAM 2 EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2026
Contract may be cancelled if - ANSWERS-Mutual mistake or
unilateral mistake happens
Marital mistake - ANSWERS-Both parties wrong about basic
assumption
Unilateral Mistake - ANSWERS-A mistake that occurs when
one party to a contract is mistaken as to a material fact. No
grounds to avoid contract
Preexisting duty rule - ANSWERS-applies in circumstances
where one party claims he wishes to modify an existing
contract because of unforeseen difficulties in performing his
obligations.
Illusory Promise - ANSWERS-Gifts. Vague promises
, Promissionary Estoppel- party recovers damages -
ANSWERS-1. Promiser makes reasonable promise
2. Promisee relied on promise and suffered injury
3. Promisee reliance was reasonable and foreseeable
4. Principles of equity+justice are served by providing
compensation
enforceable contract - ANSWERS-Genuine assent
Misrepresentation - ANSWERS-Must be proven by
1- misrepresented fact was material
2- justifiably relying on misstatement
3- was factual
Fraudulent Misrepresentation - ANSWERS-Party to a
contract deliberately makes an untrue statement of fact
Duress - ANSWERS-(n.) compulsion by threat; forcible
confinement
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2026
Contract may be cancelled if - ANSWERS-Mutual mistake or
unilateral mistake happens
Marital mistake - ANSWERS-Both parties wrong about basic
assumption
Unilateral Mistake - ANSWERS-A mistake that occurs when
one party to a contract is mistaken as to a material fact. No
grounds to avoid contract
Preexisting duty rule - ANSWERS-applies in circumstances
where one party claims he wishes to modify an existing
contract because of unforeseen difficulties in performing his
obligations.
Illusory Promise - ANSWERS-Gifts. Vague promises
, Promissionary Estoppel- party recovers damages -
ANSWERS-1. Promiser makes reasonable promise
2. Promisee relied on promise and suffered injury
3. Promisee reliance was reasonable and foreseeable
4. Principles of equity+justice are served by providing
compensation
enforceable contract - ANSWERS-Genuine assent
Misrepresentation - ANSWERS-Must be proven by
1- misrepresented fact was material
2- justifiably relying on misstatement
3- was factual
Fraudulent Misrepresentation - ANSWERS-Party to a
contract deliberately makes an untrue statement of fact
Duress - ANSWERS-(n.) compulsion by threat; forcible
confinement
