Asked by
Ponte Healthy
on Dec 14, 2024
Verified
Matthew tells Jake that he will buy Jake's car for some money next month. Which of the following choices is correct?
A) Matthew and Jake have a bilateral contract.
B) No contract resulted.
C) Matthew and Jake have a unilateral contract.
D) None of these choices is correct.
Bilateral Contract
An agreement where each of the two parties makes a promise or set of promises to the other.
Unilateral Contract
A contract in which one party makes a promise in exchange for an act by another party, who accepts the offer by performing the requested act.
- Define and outline diverse contract types, including bilateral and unilateral agreements.
Verified Answer
CP
Learning Objectives
- Define and outline diverse contract types, including bilateral and unilateral agreements.
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