Contract Vocabulary 2

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A contract can be or bilateral. If it is a bilateral contract, the parties have to each other; however in a unilateral contract one party to do something in return for an of the other.

Some are considered by the courts to be contracts as it has been held that an offer can be made to the whole world.

If an offer is made by an offeror to the other party, the , and is accepted by them, then there is an . To be binding it must be on specific , and one party must show to contract; however, if they are not prepared accept any offer immediately, then this is an . This could be a price ticket in a as the courts have ruled that they are not bound to sell at the price and the cannot demand to buy it.