SMG LA 245 Lecture Notes - Lecture 1: Executory Contract, Quasi-Contract, Contract
Document Summary
10. 2a bilateral and unilateral contracts: bilateral contract, where both parties make a promise. In a unilateral contract, one party makes a promise that the other party can accept only by actually doing something. I"ll pay to anyone who returns my lost dog. 10. 2b executory and executed contracts: executory contract is an agreement in which one or more parties have not yet fulfilled their obligations, executed contract is an agreement in which all parties have fulfilled their obligations. 10. 2d express and implied contract: express contract are when two parties explicitly state all important terms of their agreement. Implied contract, the words and conduct of the parties indicate that they intended an agreement. 10. 2e promissory estoppel and quasi-contracts: these are two remedies that are pivotal in some lawsuits, promissory estoppel. In promissory estoppel cases, defendant made a promise that the plaintiff relied on.
