Question

The ZRB Company promises to ship LST INc. 200 units of product by a certain date, and LST Inc. promises to pay ZRB $25,000 for the product within 14 days of receipt. This is an example of a(n)
A. defensible agreement.
B. exempt contract.
C. executed agreement.
D. bilateral contract.

Answer 1

Answer:

D) bilateral contract.

Explanation:

Bilateral contracts are mutually agreements between two or more parties. Each party promises to perform in exchange for consideration. In this case, ZRB promises to deliver goods to LST, and LST promises to pay a certain amount of money to ZRB in exchange for the goods.