Expert answer:Unilateral and Bilateral Contracts

Solved by verified expert:Draft a unilateral contract and a bilateral contract using the following information: Mary White is having a party for her daughter’s 16th birthday party. Mary wants to hire the band Chemistry to perform at the party. Chemistry charges $600 to perform at birthday parties.
unilateral_and_bilateral_contracts.docx

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A contract is a single promise or a set of mutual promises, the performance of which is
recognized as a legal duty and the breach of which will result in a remedy granted to the
nonbreaching party. A contract may be categorized by its type (whether unilateral or
bilateral), by its method of formation (whether express, implied, or quasi), by its validity
(whether void, voidable, or unenforceable), and by its status (whether executory or
executed).
Unilateral or Bilateral
The traditional unilateral contract consists of a single promise made by the offeror to the
offeree, which seeks performance from the offeree rather than a promise of performance.
•
Max promises to pay Sam $100 if Sam paints Max’s house. If (and only if) Sam paints the house,
Max will be obligated to pay him $100.
The traditional bilateral contract consists of a promise given in exchange for a promise
(mutual promises). Under both the Uniform Commercial Code (U.C.C.) and the Restatement
(Second) of Contracts, however, a bilateral contract may be created either by mutual
promises or by the start of performance.
•
Max promises to pay Arnold $100 if Arnold will promise to paint Max’s house, and Arnold
promises to paint Max’s house for $100. (bilateral contract)
•
Max promises to pay Arnold $100 if he will promise to paint Max’s house, and Arnold begins
painting the house. (bilateral contract)
Under the modern view, most contracts are classified as bilateral, with traditional unilateral
contracts occurring only in two situations:
•
•
1. Where the offeror clearly indicates that performance is the only manner of acceptance, in
which case no contract is formed until the act is done; and
2. Where there is an offer to the public that clearly contemplates acceptance only by
performance, such as an offer of a reward for the return of a lost item.
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