Asked by Rogelio De Santiago on Jun 08, 2024
Verified
In a unilateral contract, a promise is exchanged from one party to another for a promise to forbear to act.
Forbear
To refrain from enforcing a right or claim, or to abstain from doing something.
Unilateral Contract
A contract in which one party makes a promise in exchange for the other party's performance, rather than a promise in return.
- Identify the distinctions between bilateral and unilateral contracts.
Verified Answer
AK
Ashley KatrinaJun 14, 2024
Final Answer :
False
Explanation :
In a unilateral contract, a promise is exchanged for an act, not for another promise or a promise to forbear to act.
Learning Objectives
- Identify the distinctions between bilateral and unilateral contracts.