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Unilateral Contract: Definition & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A unilateral contract differs from a bilateral contract in that a unilateral contract involves _____.

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1. Unilateral contracts are typically utilized in which of the following?

2. If one party performs under the unilateral contract, but the other party fails to do so, this is known as a/an _____.

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About This Quiz & Worksheet

Unilateral contracts are important to be familiar with in business law, and this quiz/worksheet will help you test your understanding of their significance and applications.

Quiz & Worksheet Goals

In these assessments you'll be tested on:

  • Unilateral contracts
  • When a party performs under a unilateral contract and the other party doesn't do the same
  • Bilateral contracts

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Distinguishing differences - compare and contrast unilateral and bilateral contracts
  • Reading comprehension - ensure that you draw the most important information from the lesson on the application of unilateral contracts
  • Information recall - access the knowledge you've gained regarding the term used to describe a situation in which one party performs under a unilateral contract and one party does not

Additional Learning

To learn more about unilateral contracts in business law, review the accompanying lesson on Unilateral Contracts: Definition & Examples. This lesson covers the following objectives:

  • Differentiate between unilateral and bilateral contracts
  • Define unilateral contract
  • Familiarize yourself with an example of a unilateral contract
  • Understand what constitutes a breach of contract
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