An illusory promise creates a bilateral contract.

Name: An illusory promise creates a bilateral contract.
Brand: Quizplus
Rating: 4.9 (30 reviews)

Question

Quizplus · Accepted Answer

An illusory promise does not create a bilateral contract because it lacks consideration or mutuality of obligation. It is merely a statement that does not bind the promisor to any specific action or obligation, therefore it does not create a binding agreement.

An Illusory Promise Creates a Bilateral Contract