Asked by Felicia Thompson on May 09, 2024
Verified
Red offers to pay Sari to deliver certain documents within thirty minutes. Sari can accept the offer only by completing the task within the deadline. If she does, Red and Sari will have
A) a bilateral contract.
B) a unilateral contract.
C) a void contract.
D) an executive contract.
Unilateral Contract
A contract in which one party makes a promise in exchange for an act by the other party, becoming binding only when the act is completed.
- Achieve an understanding of the vital elements required for the formulation of a valid contract, such as offer, acceptance, and consideration.
Verified Answer
DC
David ChangMay 13, 2024
Final Answer :
B
Explanation :
A unilateral contract is formed when one party makes a promise that the other party can accept only through an action, such as completing a task. In this case, Sari can accept Red's offer only by delivering the documents within the specified time, making it a unilateral contract.
Learning Objectives
- Achieve an understanding of the vital elements required for the formulation of a valid contract, such as offer, acceptance, and consideration.