Bob promises to sell to Candy an automobile for $20,000, for which Candy promises $20,000. A unilateral contract exists.

Name: Bob promises to sell to Candy an automobile for $20,000, for which Candy promises $20,000. A unilateral contract exists.
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A unilateral contract involves a promise in exchange for an act, not a promise for a promise. This scenario describes a bilateral contract, where both parties have made promises to each other.

Bob Promises to Sell to Candy an Automobile for $20,000