To be legally binding as a contract, a promise must be exchanged for adequate consideration.

The answer is b. bilateral contract. A bilateral contract is a type of contract in which two parties promise to do something.

26 мар. 2024 г. · In a unilateral contract, one party makes a promise in exchange for a specific action from another party. Here, only one party is legally bound.

Bilateral contracts involve an exchange of promises between two parties, where each party must fulfill their end of the bargain. For instance, when you purchase ...

A bilateral contract is a contract in which both parties in the agreement exchange promises to perform a specific action.

23 мая 2024 г. · A bilateral contract is a reciprocal agreement between two parties where each promises to perform an act in exchange for the other party's act.

a binding agreement between two or more persons that is enforceable by law 2.) a contract is a legally enforceable PROMISE or an exchange of promises

26 окт. 2023 г. · A unilateral contract is an agreement where one party makes a promise to perform a certain act and the other party accepts the offer by actually performing ...

Executed consideration: This type of consideration is found in unilateral contracts, where one party makes a promise in exchange for an act by the other party ...