BBG E231 Lecture Notes - Lecture 14: Contract, Executory Contract, A Void
Document Summary
A: we are looking for a promise on the other person also. You"re making a promise, and in exchange, ur looking for a promise. Ex: i promise to sell u this iphone for 400 dollars in exchange for u providing me with. This is a bilateral contract, because the promise to pay for the phone is in exchange for the promise of the phone. One person is promising to pay for the phone the other person is promising to give it. *you don"t have to use the word promise . If i say, if u pass my class, i promise to throw a big party that"s an offer for a unilateral contract, because we are not making the promise to pass the class. This is an offer to enter into a unilateral contract, because ur looking for performance on the other side. I"ll throw u a pizza party, if u don"t fail my class= unilateral contract.
