BUSFIN 3500 Final Exam Latest Update 2024-
2025 Actual Exam from Credible Source with 160
Questions and 100% Verified Detailed Correct
Answers Guaranteed A+ Approved by Professor
2nd Exception to Illegal Agreement - CORRECT ANSWER: Justifiable Ignorance of the
Facts: leaves one party unaware of a provisions of the agreement that would make it
illegal.
3 Requirements to Acquire Damages - CORRECT ANSWER: -Mitigation of Damages:
must demonstrate that he used reasonable efforts to minimize damages resulting from
the breach
-Foreseeable
-Reasonably show how damages are calculated
3rd Exception to Illegal Agreement - CORRECT ANSWER: occurs when one of the
parties withdraws from an illegal agreement. party must have withdrawn before any
illegality occurred.
Adequacy of Consideration - CORRECT ANSWER: Court does not rule whether or not
you made a good bargain
Age Discrimination Employment Act of 1967: - CORRECT ANSWER: Enacted to
prohibit employers for refusing to hire, discharging or discriminating in terms and
conditions of employment against employees age 40 or older
Agreement - CORRECT ANSWER: consists of an offer by one party to enter into a
contract an acceptance of the terms by the other party
Agreements in Contradiction to Public Policy - CORRECT ANSWER: Contracts in
restraint of free trade: anticompetitive agreements are harmful to consumers and
against public policy
,American w/ Disabilities Act: - CORRECT ANSWER: Preventing employers from
discriminating against employees and applicants with disabilities
Anticipatory Repudiation: - CORRECT ANSWER: situation that arises when a party may
decide not to complete the contract before the actual time of performance
Bilateral Contract - CORRECT ANSWER: if the offeror wants a promise from the offeree
to form a binding contract. Promise for promise
Bilateral Mistakes: - CORRECT ANSWER: All of the following must be present:
-Basic assumption about subject matter (about existence, quality, or quantity of items)
-Material effect (effect the essence of the agreement)
-Adverse effect on a party who did not agree to bear the risk of mistake
Bona Fide Occupational Qualification Defense: - CORRECT ANSWER: allows an
employer to discriminate in hiring on the basis sex, religion or national origin when doing
so is necessary for the performance of the job. NEVER RACE
Boycott: - CORRECT ANSWER: refusal to deal with, purchase goods from or work for a
business
Business Trust - CORRECT ANSWER: organization governed by a group of trustees,
who operate the trust for the beneficiaries, enjoy limited liability
Chain-Style Business Operation (Under Franchise) - CORRECT ANSWER: business
operates under the franchisor's business name and required to follow the standards and
methods of the trademark
Civil Rights Act of 1965 (Title VII): - CORRECT ANSWER: Prohibits employers from
hiring, firing or otherwise discriminating in terms and conditions of employment and
prohibits segregating employees in a manner that would affect their employment
, opportunities on the basis of DANGERR. Applies to employers w/ 15+ employees for 20
consc. week
Collective Bargaining: must bargain in good fath: - CORRECT ANSWER: -Reasonable
times and confer in good faith
-Sign a written agreement if one is reached
-Give 60 days if intent to terminate a contract
-Neither strike or engage in a lockout during 60 day period
Concealment: - CORRECT ANSWER: active hiding of the truth about a material fact
Conditional Contract: - CORRECT ANSWER: Contracts containing conditions affecting
the performance obligation of the parties.
Consideration - CORRECT ANSWER: the bargained-for exchange for his or her
promise under the contract
Consolidated Omnibus Reconciliation Act of 1985 (COBRA): - CORRECT ANSWER:
ensures that employees who lose their jobs or have their hours reduced so that they are
no longer eligible for benefits can continue receiving those benefits under the
employer's policy UNLESS employee is fired for gross misconduct, employer eliminates
benefits for everyone
Constructive Discharge: - CORRECT ANSWER: working conditions escalated to such
poor levels that you quit
Contract - CORRECT ANSWER: promise or set of promises for the breach of which the
law gives a remedy or the performance of which the law in some way recognizes a duty
Contract Law falls under what jurisdiction - CORRECT ANSWER: State
2025 Actual Exam from Credible Source with 160
Questions and 100% Verified Detailed Correct
Answers Guaranteed A+ Approved by Professor
2nd Exception to Illegal Agreement - CORRECT ANSWER: Justifiable Ignorance of the
Facts: leaves one party unaware of a provisions of the agreement that would make it
illegal.
3 Requirements to Acquire Damages - CORRECT ANSWER: -Mitigation of Damages:
must demonstrate that he used reasonable efforts to minimize damages resulting from
the breach
-Foreseeable
-Reasonably show how damages are calculated
3rd Exception to Illegal Agreement - CORRECT ANSWER: occurs when one of the
parties withdraws from an illegal agreement. party must have withdrawn before any
illegality occurred.
Adequacy of Consideration - CORRECT ANSWER: Court does not rule whether or not
you made a good bargain
Age Discrimination Employment Act of 1967: - CORRECT ANSWER: Enacted to
prohibit employers for refusing to hire, discharging or discriminating in terms and
conditions of employment against employees age 40 or older
Agreement - CORRECT ANSWER: consists of an offer by one party to enter into a
contract an acceptance of the terms by the other party
Agreements in Contradiction to Public Policy - CORRECT ANSWER: Contracts in
restraint of free trade: anticompetitive agreements are harmful to consumers and
against public policy
,American w/ Disabilities Act: - CORRECT ANSWER: Preventing employers from
discriminating against employees and applicants with disabilities
Anticipatory Repudiation: - CORRECT ANSWER: situation that arises when a party may
decide not to complete the contract before the actual time of performance
Bilateral Contract - CORRECT ANSWER: if the offeror wants a promise from the offeree
to form a binding contract. Promise for promise
Bilateral Mistakes: - CORRECT ANSWER: All of the following must be present:
-Basic assumption about subject matter (about existence, quality, or quantity of items)
-Material effect (effect the essence of the agreement)
-Adverse effect on a party who did not agree to bear the risk of mistake
Bona Fide Occupational Qualification Defense: - CORRECT ANSWER: allows an
employer to discriminate in hiring on the basis sex, religion or national origin when doing
so is necessary for the performance of the job. NEVER RACE
Boycott: - CORRECT ANSWER: refusal to deal with, purchase goods from or work for a
business
Business Trust - CORRECT ANSWER: organization governed by a group of trustees,
who operate the trust for the beneficiaries, enjoy limited liability
Chain-Style Business Operation (Under Franchise) - CORRECT ANSWER: business
operates under the franchisor's business name and required to follow the standards and
methods of the trademark
Civil Rights Act of 1965 (Title VII): - CORRECT ANSWER: Prohibits employers from
hiring, firing or otherwise discriminating in terms and conditions of employment and
prohibits segregating employees in a manner that would affect their employment
, opportunities on the basis of DANGERR. Applies to employers w/ 15+ employees for 20
consc. week
Collective Bargaining: must bargain in good fath: - CORRECT ANSWER: -Reasonable
times and confer in good faith
-Sign a written agreement if one is reached
-Give 60 days if intent to terminate a contract
-Neither strike or engage in a lockout during 60 day period
Concealment: - CORRECT ANSWER: active hiding of the truth about a material fact
Conditional Contract: - CORRECT ANSWER: Contracts containing conditions affecting
the performance obligation of the parties.
Consideration - CORRECT ANSWER: the bargained-for exchange for his or her
promise under the contract
Consolidated Omnibus Reconciliation Act of 1985 (COBRA): - CORRECT ANSWER:
ensures that employees who lose their jobs or have their hours reduced so that they are
no longer eligible for benefits can continue receiving those benefits under the
employer's policy UNLESS employee is fired for gross misconduct, employer eliminates
benefits for everyone
Constructive Discharge: - CORRECT ANSWER: working conditions escalated to such
poor levels that you quit
Contract - CORRECT ANSWER: promise or set of promises for the breach of which the
law gives a remedy or the performance of which the law in some way recognizes a duty
Contract Law falls under what jurisdiction - CORRECT ANSWER: State
