Windsor,the owner of Windsor's Sandwiches,contacts Gary,a new supplier.He promises Gary that he will pay him $375 if Gary delivers 20 pounds of cheese the following morning.Gary promises to make the delivery as requested by Windsor.This creates a(n)________ contract between them.
A)bilateral
B)unilateral
C)executed
D)voidable

Question

Quizplus · Accepted Answer

A bilateral contract is an agreement between two parties where both parties make promises to perform certain actions. In this case, Windsor promises to pay Gary $375 and Gary promises to deliver 20 pounds of cheese. This creates a bilateral contract between them. Unilateral contracts involve one party making a promise in exchange for the other party's performance, but in this case, both parties are making promises. An executed contract is one that has been fully performed by both parties, but in this case, the delivery and payment have not yet occurred. A voidable contract is one that may be canceled by one of the parties due to some legal defect, but there is no indication in the scenario that this contract is voidable.

Windsor,the Owner of Windsor's Sandwiches,contacts Gary,a New Supplier