Discussion #3
Please read the attached documents, read below and answer the following questions.
Consider the differences between the bilateral contract and the unilateral contract. In the bilateral contract, we have the offeror willing to exchange a promise for another promise (“I promise to pay you $1500.00, if you promise to paint my house on or before Saturday.”). In the unilateral contract, the offeror is insisting on performance for a promise (“If you complete painting my house before Saturday, I will pay you $1500.00).
Why does the law make such a distinction and why would a party to a contract choose one type over another?
Book reference : Ashcroft, J., & Ashcroft, J. (2014). Law for business with CourseMate access (18th ed.). Mason, Ohio: South-Western Cengage Learning.
Note: Please cite citations and references
Solution Preview
The Difference between Unilateral and Bilateral Contracts
The law distinguishes bilateral and unilateral contracts because of their distinct features. The two contracts are applied in different contexts, thus the law must distinguish them to enable the parties involved to know their responsibilities and liabilities they will incur if they fail to perform their parts. Under the unilateral contract, a contract does not exist until the performance has been completed (Mann & Roberts, 2015). For example in the case, the contract can only exist if the painter finishes to paint the house by Saturday. The
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