A promise exchanged for an act is an example of a(n)_____.
A) bilateral contract
B) unilateral contract
C) implied contract
D) quasi contract

Question

Quizplus · Accepted Answer

Contracts are called either unilateral or bilateral depending on whether one or both of the parties made a promise. In a unilateral contract, only one of the parties makes a promise. The other party performs an act in exchange for that promise.

A Promise Exchanged for an Act Is an Example of A(n)_____