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:

Credit Cards

Financial tools issued by banks that allow users to borrow funds within an agreed limit for purchases or cash advances.

APR

Annual Percentage Rate, a measure used to calculate the cost of borrowing, including interest and other charges, expressed as a yearly rate.

Finance Charges

The total cost of borrowing, including interest and any other charges assessed by the creditor.

APR

The Annual Percentage Rate, a measure used to calculate the cost of borrowing, including interest and other fees, shown as a yearly rate.