A promise exchanged for a promise is an example of:
A) a bilateral contract.
B) a unilateral contract.
C) an implied contract.
D) promissory estoppel.

Question

Quizplus · Accepted Answer

A promise exchanged for a promise is an example of a bilateral contract. In a bilateral contract, both parties make a promise. Unilateral contracts create some special problems in the areas of offer and acceptance. This fact causes the courts to treat a contract as bilateral whenever it is possible to do so.

A Promise Exchanged for a Promise Is an Example Of