A[n] ________ contract is commonly defined as a promise in exchange for a promise.
A) Unilateral
B) Trilateral
C) Complete
D) Bilateral
E) Classified

Question

Quizplus · Accepted Answer

A bilateral contract involves two parties where each party makes a promise to the other. This contrasts with a unilateral contract, where one party makes a promise that the other party can accept only through an action.

A[n] ________ Contract Is Commonly Defined as a Promise in Exchange