The Terms "Bilateral" and "Unilateral" as Applied to Contracts Are

question 60

Multiple Choice

The terms "bilateral" and "unilateral" as applied to contracts are based on:

• A) the number of parties in a contract
• B) the number of attempts made to form a contract
• C) the number of parties who make a promise in the formation of a contract
• D) the number of promises that are made in connection with a contract
• E) the number of attempts it took for a contract to be successfully performed

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Definitions:

Systems Theory

An interdisciplinary theory that studies complex systems in various fields and seeks to understand their behavior, interrelations, and properties.

Multinational Approach

A strategy used by businesses that operate in multiple countries, adapting operations, products, and marketing strategies to local conditions and cultures.

Universal Process Approach

A theory in management that assumes all organizations, regardless of their specific nature, follow the same fundamental principles.

Systems Approach

A way of analysis that studies the entity as an integrated and interacting system of components or variables to address complexities.