The Basic Distinction Between a Bilateral Contract and a Unilateral

question 11

Multiple Choice

The basic distinction between a bilateral contract and a unilateral contract is that

• A)only one promise is involved in a bilateral contract.
• B)only one promise is involved in a unilateral contract.
• C)the Statute of Frauds applies to one and not the other.
• D)one is enforceable, the other is not.

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Definitions:

Assembly Line Workers

Employees who work on a manufacturing process where a product is assembled step by step in a sequential manner.

Support Staff

Employees who provide administrative or technical services to aid the primary functions of an organization, institution, or industry.

Profit-Sharing Plan

A retirement plan where companies share a portion of their profits with employees, which is allocated to individual employee retirement accounts.

Job Classification

The categorization of jobs or positions within an organization based on duties, responsibilities, and pay scales.