Jane tells Mark that she would pay him $50 if Mark finds her lost bag. This is an example of a _____.
A) bilateral contract
B) unilateral contract
C) contingent contract
D) multilateral contract

Question

Quizplus · Accepted Answer

In a unilateral contract, a promise is exchanged for an act. This is a unilateral contract as Jane promises Mark $50 in exchange for an act, the act being Mark finding Jane's lost bag. The courts, if possible, interpret an offer as proposing a bilateral contract. A bilateral contract is a promise for a promise, and the offeree must make the promise requested in the offer.

Jane Tells Mark That She Would Pay Him $50 If