A Bilateral Contract Consists of A

question 42

Multiple Choice

A bilateral contract consists of a:

• A) promise for an act.
• B) promise for refraining from acting.
• C) promise for a promise.
• D) promise to contract.

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Definitions:

Promise

A declaration or assurance that one will do a particular thing or that a particular thing will happen.

Gift

A voluntary transfer of property or funds from one person to another without expectation of receiving something in return.

Mislaid Property

Property that is intentionally placed somewhere but then forgotten by the owner.

Lost Property

Items that are unintentionally left by their owner at a specific location, which can then be found by others.