BUSA EXAM 2 PERRY BINDER GSU
LATEST 2025 QUESTIONS and VERIFIED
SOLUTIONS ALREADY GRADED
A+|100% GUARANTEE PASS!!!
usury - CORRECT ANSWER-maximum interesest rate legally allowed
wells fargo - CORRECT ANSWER-(unilateral mistake) foreclosure, paralegal make one bid for
1150,000$ and she accidentally made the bid 15,000$, anyway someone bid 20k instead and they told
her tough luck the contract was going through anyway
unilateral mistake - CORRECT ANSWER-A mistake that occurs when one party to a contract is mistaken
as to a material fact.
the party that makes the mistake cannot get out of the agreement but the one not at fault can,
when only one party enters a contract under mistaken assumption
,intent - CORRECT ANSWER-:If both parties make a big mistake on the contract then we got no
contract.
-no mutual mistake
unilateral mistake: A mistake that occurs when one party to a contract is mistaken as to a material fact.
(wells fargo case)
Breach of express contract
1 existence of valid contract
2 breach
3 plaintiff notified defendant of breach
4 plaintiff performed all conditions precedent to filling action
5 damages - CORRECT ANSWER-plaintiff performed all conditions precedent to filling: before i sue you,
i have to make sure i did everything i was suposed to do uder the contract
facebook case - CORRECT ANSWER-terms of service, click and agree but you hardly read, forum
selection (where its going to be), as business person you want forum selection, put all offensive terms at
beginning of contract
*oral or written* - CORRECT ANSWER-express contract can be (2 POINTS ON EXAM)
Elements of an express contract (6) - CORRECT ANSWER-1. Offer (offeror/Offeree)
2. Acceptance
3. Consideration
4. Capacity
5. Legality
6. Intent
Common law (cases) and statues (laws) - CORRECT ANSWER-Contract law is derived from what two
things?
offer (Elements of an express contract) - CORRECT ANSWER-(1) A valid offer communicated and
accepted.
, -offeror: A person who makes an offer.
-offeree: A person to whom an offer is made.
acceptance (elements of an expressed contract) - CORRECT ANSWER-*Voluntary act by the offer that
shows an agreement to the terms of an offer. May consist of words or conduct.*
-An offeree's response to an offer, rejecting the original offer and making a new offer at the same time.
Person receiving the offer changed the original offer so wash my car for $30? No ill do it for $50.
-*counteroffer*: Responds to original offer and comes up with new terms
consideration - CORRECT ANSWER-Both sides must give up and receive semi-equal values. The value
given in return for a promise. Must be something of legally sufficient value, and there must be a
bargained for exchange. The deal or the contracts have to be where both sides get and receive semi-
equal value.
and promissory estoppel - CORRECT ANSWER-*-promissory estoppel:*Promissory Estoppel No
contract, but you promised (Detrimental Reliance) when you promised, I relied on that promised, and
thus I got harmed
(acted before promise was made) Prom story
past consideration - CORRECT ANSWER-Bad or no consideration. Consideration that took place in the
past or that is given for something that has already been done. Swimmer doesn't know me. Were at lake
and my friend is drowning. Swimmer saves the life. Give him $1000 tomorrow.
capacity
-void
-voidable
-unenforcable - CORRECT ANSWER-*legal ability of Who can and can't enter a contract. *
*void*: *void neither side can enforce (illegal).* certain things like contracts illegal is plain old void, lack
of capacity (if a prior judge ruled lack of capacity) then its void
*voidable:* *one side can choose to enforce it or get out of it* Contract may be legally avoided or
cancelled at the option of one or both of the parties. One side can choose to enforce and a judge
determines what is enforceable what is not enforceable. Can decide to enforce or get our the contract.
*unenforceable:* Up to a judge, A valid contract rendered unenforceable by some statute or law.
LATEST 2025 QUESTIONS and VERIFIED
SOLUTIONS ALREADY GRADED
A+|100% GUARANTEE PASS!!!
usury - CORRECT ANSWER-maximum interesest rate legally allowed
wells fargo - CORRECT ANSWER-(unilateral mistake) foreclosure, paralegal make one bid for
1150,000$ and she accidentally made the bid 15,000$, anyway someone bid 20k instead and they told
her tough luck the contract was going through anyway
unilateral mistake - CORRECT ANSWER-A mistake that occurs when one party to a contract is mistaken
as to a material fact.
the party that makes the mistake cannot get out of the agreement but the one not at fault can,
when only one party enters a contract under mistaken assumption
,intent - CORRECT ANSWER-:If both parties make a big mistake on the contract then we got no
contract.
-no mutual mistake
unilateral mistake: A mistake that occurs when one party to a contract is mistaken as to a material fact.
(wells fargo case)
Breach of express contract
1 existence of valid contract
2 breach
3 plaintiff notified defendant of breach
4 plaintiff performed all conditions precedent to filling action
5 damages - CORRECT ANSWER-plaintiff performed all conditions precedent to filling: before i sue you,
i have to make sure i did everything i was suposed to do uder the contract
facebook case - CORRECT ANSWER-terms of service, click and agree but you hardly read, forum
selection (where its going to be), as business person you want forum selection, put all offensive terms at
beginning of contract
*oral or written* - CORRECT ANSWER-express contract can be (2 POINTS ON EXAM)
Elements of an express contract (6) - CORRECT ANSWER-1. Offer (offeror/Offeree)
2. Acceptance
3. Consideration
4. Capacity
5. Legality
6. Intent
Common law (cases) and statues (laws) - CORRECT ANSWER-Contract law is derived from what two
things?
offer (Elements of an express contract) - CORRECT ANSWER-(1) A valid offer communicated and
accepted.
, -offeror: A person who makes an offer.
-offeree: A person to whom an offer is made.
acceptance (elements of an expressed contract) - CORRECT ANSWER-*Voluntary act by the offer that
shows an agreement to the terms of an offer. May consist of words or conduct.*
-An offeree's response to an offer, rejecting the original offer and making a new offer at the same time.
Person receiving the offer changed the original offer so wash my car for $30? No ill do it for $50.
-*counteroffer*: Responds to original offer and comes up with new terms
consideration - CORRECT ANSWER-Both sides must give up and receive semi-equal values. The value
given in return for a promise. Must be something of legally sufficient value, and there must be a
bargained for exchange. The deal or the contracts have to be where both sides get and receive semi-
equal value.
and promissory estoppel - CORRECT ANSWER-*-promissory estoppel:*Promissory Estoppel No
contract, but you promised (Detrimental Reliance) when you promised, I relied on that promised, and
thus I got harmed
(acted before promise was made) Prom story
past consideration - CORRECT ANSWER-Bad or no consideration. Consideration that took place in the
past or that is given for something that has already been done. Swimmer doesn't know me. Were at lake
and my friend is drowning. Swimmer saves the life. Give him $1000 tomorrow.
capacity
-void
-voidable
-unenforcable - CORRECT ANSWER-*legal ability of Who can and can't enter a contract. *
*void*: *void neither side can enforce (illegal).* certain things like contracts illegal is plain old void, lack
of capacity (if a prior judge ruled lack of capacity) then its void
*voidable:* *one side can choose to enforce it or get out of it* Contract may be legally avoided or
cancelled at the option of one or both of the parties. One side can choose to enforce and a judge
determines what is enforceable what is not enforceable. Can decide to enforce or get our the contract.
*unenforceable:* Up to a judge, A valid contract rendered unenforceable by some statute or law.
