Sue Smith, the owner of Hi-Fi heaven, orders 100 stereo receivers from Steve Jones, a salesman for Slick Sound Manufacturing Company. Sue has made a promise to pay for the receivers in exchange for Slick Sound's promise to deliver them. This is a(n) _____ contract.

Question

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In a bilateral contract, both parties make a promise. For example, if Sue Smith, the owner of Hi-Fi heaven, orders 100 stereo receivers from Steve Jones, a salesman for Slick Sound Manufacturing Company, she has made a promise to pay for the receivers in exchange for Slick Sound's promise to deliver them. This is a bilateral contract.

Sue Smith, the Owner of Hi-Fi Heaven, Orders 100 Stereo