Question

Briefly discuss the meaning of bilateral unilateral executory and executed contracts

Answer 1

(Completed contract) An executory contract is one that some or all obligations under the contract have not been performed either by one or more of the parties. (c) unilateral and bilateral contracts A bilateral contract involves the exchange of promises between parties, which means a promise for a promise.

Answer 2

Both unilateral and bilateral contracts are enforceable in court. For example, a unilateral contract is enforceable when someone chooses to begin fulfilling the act demanded by the promisor. A bilateral contract is enforceable from the get-go; both parties are bound the promise.
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