What is a key difference between a bilateral and a unilateral contract?
A)Only a bilateral contract requires consideration.
B)Only a unilateral contract requires consideration.
C)The adequacy of consideration.
D)The type of consideration.
E)The existence of promissory estoppel in bilateral contracts only.

Question

Quizplus · Accepted Answer

A)In a bilateral contract a promise for a promise),the consideration for each
promise is a return promise.In a unilateral contract a promise for an act),one party's consideration is the promise and the other party's consideration is the act.
B)In a bilateral contract a promise for a promise),the consideration for each promise is a return promise.In a unilateral contract a promise for an act),one party's consideration is the promise and the other party's consideration is the act.
C)In a bilateral contract a promise for a promise),the consideration for each promise is a return promise.In a unilateral contract a promise for an act),one party's consideration is the promise and the other party's consideration is the act.
D)In a bilateral contract a promise for a promise),the consideration for each promise is a return promise.In a unilateral contract a promise for an act),one party's consideration is the promise and the other party's consideration is the act.
E)In a bilateral contract a promise for a promise),the consideration for each promise is a return promise.In a unilateral contract a promise for an act),one party's consideration is the promise and the other party's consideration is the act.

What Is a Key Difference Between a Bilateral and a Unilateral