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

question 42

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:

Compounded Quarterly

The process of calculating and adding interest to the principal sum of an investment or loan on a quarterly basis, thus increasing the amount on which subsequent interest is calculated.

Semiannually Compounded

Interest calculation method where the interest earned is added to the principal twice per year, effectively growing the investment more quickly than simple interest.

Compound Annual

A calculation of the total compound interest earned or payable over a period of one year.

Hourly Wage

The amount of money paid for each hour of work, commonly used in part-time and some full-time employment.