A bilateral contract consists of a:
A) promise for an act.
B) promise for refraining from acting.
C) promise for a promise.
D) promise to contract.

Question

Quizplus · Accepted Answer

A bilateral contract is a type of contract in which both parties exchange promises. Each party makes a promise to do something in exchange for the other party's promise to do something else. This is also known as a "promise for a promise" contract. Option A involves a promise for an act, which could be a unilateral contract. Option B involves a promise for refraining from acting, which could also be a unilateral contract. Option D doesn't fit the definition of a bilateral contract.

A Bilateral Contract Consists of A