Unformatted text preview: 5. Bilateral Contract – A promise is exchanged for another promise. 6. Unilateral Contract – Ex. Reward case Terms: • Executory – contract has not been fully performed. • Executed – contract has been fully performed. • Void – without legal effect • Voidable – may be voided at the option of one of the parties • Quasi Contract – is a legal fiction and will be applied to avoid unjust enrichment. Ex. House painter Assignment: Read the following two cases and be prepared to discuss them. 1. Leonard v. Pepsico, Inc. . 2. Lucy v. Zehmer, ...
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- Spring '14
- informal contract, legally enforceable contracts