As a copy editor, it is important to understand the role of SEO in article creation. In this article, we will explore the question “which of the following is true in a unilateral contract quizlet?” and provide a comprehensive answer backed by research and industry knowledge.
Before diving into the specifics of a unilateral contract, it is important to understand the basic principles of contract law. In legal terms, a contract is an agreement between two or more parties that creates legally binding obligations. Contracts can be bilateral, which means that both parties are obligated to perform certain actions, or unilateral, which means that only one party is obligated to perform.
A unilateral contract is a contract in which one party promises to perform a certain action if the other party performs a specific act. For example, a company may offer a reward to anyone who provides information leading to the arrest and conviction of a criminal. In this case, the company is obligated to pay the reward only if someone provides the required information.
So, which of the following is true in a unilateral contract quizlet? The answer is that in a unilateral contract, only one party is obligated to perform. The other party is not obligated to do anything, but if they do, the obligated party must fulfill their promise.
It is important to note that unilateral contracts are often used in situations where the obligated party wants to incentivize a certain action. For example, a company may offer a bonus to an employee who reaches a specific sales goal. The employee is not obligated to meet the goal, but if they do, the company is obligated to pay the bonus.
In conclusion, understanding the principles of contract law is important for anyone working in the legal or business fields. Unilateral contracts are a specific type of contract in which only one party is obligated to perform. By understanding the basic principles of unilateral contracts, individuals can better navigate legal and business situations where these types of contracts are used.
