Mike Made the Following Offer to Mick: "I Will Pay

question 43

Multiple Choice

Mike made the following offer to Mick: "I will pay you $500 if you agree to paint my house." Mick replied that he would.At this point,the contract is an:

• A) executed, bilateral, express contract.
• B) executory, bilateral, implied-in-law contract.
• C) executory, unilateral, express contract.
• D) executory, bilateral, express contract.

---

Definitions:

Consumption Bundle

A combination of goods and services that a consumer chooses to consume.

Subsidy

Financial support given by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.

Housing

Refers to the construction and assignment of houses or buildings for the purpose of providing shelters or places to live.

Income

The money received by an individual or business in exchange for labor, services, or investments over a given period.