Explore BrainMass

Explore BrainMass

    Three Elements of a Contract; bilateral and unilateral

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What are the three elements to a contract? What is the difference between a bilateral and a unilateral contract?

    © BrainMass Inc. brainmass.com June 3, 2020, 10:08 pm ad1c9bdddf

    Solution Preview

    Sometimes the list is longer than three because it is subdivided (offer and acceptance are 2 elements), but the basics are:

    1. Agreement including an offer and an acceptance
    2. Consideration ...

    Solution Summary

    The cited solution lists the three common elements of a contract, and explains the difference between bilateral and unilateral contracts with examples.