Question

Ben offers a $100 reward for finding his lost briefcase. When David finds the briefcase and returns it to Ben, Ben is obliged to pay David the reward. What type of contract is this?
A.
bilateral
B.
unilateral
C.
express
D.
implied
E.
sales

Answer 1

Answer:

unilateral

Explanation:

Contract may be explained as a binding agreement between two or more persons. Depending on the terms and nature of the contract. Express and implied Contracts are usually distinguished based on the fact that express contracts are either written or verbally made while implied contracts stems from action or conduct . On the other hand, bilateral and unilateral contract differs based on the number of parties coming together to make the agreement. A promise or reward made by a person towards those who perform a specified act is only made by one person as this will be tagged as a unilateral contract just like in the scenario above. While that which involves atleast two person coming together to deliberate and agree on a decision is called a bilateral contract.