Multiple choice

A unilateral contract

  1. Can only have 2 parties and 2 obligations

  2. Can only have 2 parties, with at least 1 obligation

  3. 2 promises, the first leads to a reciprocal promise

  4. Promise is made by only 1 party
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In a unilateral contract, only one party makes a legally binding promise to perform in exchange for an act by the other party. The other party is not obligated to act, but if they do, the promising party must fulfill their promise.

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