Explain How a Bilateral Contract Differs from a Unilateral Contract

question 31

Essay

Explain how a bilateral contract differs from a unilateral contract.

---

Definitions:

Supplies

Items used in the operation of a business, often consumable, like stationery, raw materials, or maintenance supplies.

Utilities Expense

The cost incurred by businesses for basic services such as water, electricity, gas, and telecommunications.

Office Supplies

Items used regularly in an office for writing, printing, filing, or cleaning, regarded as consumable materials.

Journalize

The act of documenting monetary transactions within a journal during a stage in the accounting cycle.