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Unformatted text preview: the basic distinction between a bilateral contract and a
Specific performance is available if the contract is unilateral but not if it is bilateral.
Only one promise is involved if the contract is unilateral but two if it is bilateral.
The Statute of Frauds applies to a bilateral contract but not to a unilateral contract.
Rights under a bilateral contract are assignable, whereas rights under a unilateral contract are not
d. Which of the following requires consideration in order to be binding upon the parties?
A written promise signed by a merchant to keep an offer to buy goods open for 14 days
Material modification of a sale of goods contract under Article 2 of the UCC
Material alteration of a personal service contract
Settlement of a disputed debt 533.
d. Which of the following requires consideration to be binding on the parties?
Material modification of a contract involving the sale of real estate
Ratification of a contr...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.
- Fall '12
- The Lottery