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    Three Elements of a Contract; bilateral and unilateral

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    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
    https://brainmass.com/business/business-law/three-elements-of-a-contract-bilateral-and-unilateral-217212

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    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.

    $2.19

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