A contract is a(n)________ contract if the offeror's promise is answered with the offeree's promise of acceptance.
A)voidable
B)executed
C)unilateral
D)bilateral

Question

Quizplus · Accepted Answer

A bilateral contract is a type of contract where both parties make a promise to each other. In this type of contract, the offeror's promise is answered with the offeree's promise of acceptance. Therefore, Option D is the correct answer. Option A, voidable contract, refers to a contract that can be rejected by one of the parties due to legal or factual issues. Option B, executed contract, refers to a contract that has been fully performed by both parties. Option C, unilateral contract, is where only one party promises to do something if the other party performs a specific task.

A Contract Is A(n)________ Contract If the Offeror's Promise Is