Question

Which of the following is an example of a contract where both parties have an equal day in the terms?

Unilateral
Bilateral
Credit card
Rental agreement

Answer 1

1.Bilateral

2. Negotiating

Explanation:

Answer 2

The correct answers are as follows:
1. BILATERAL.
A contract between two parties is said to be bilateral, if the two parties have specific obligations to fulfill, each has a role to play for the contract to be successful. The most common type of contract that can be found in the business environment is bilateral contract.
2. CONTRACTING.
When both parties discuss the term of contract they are said to be contracting. Contract refers to a voluntary agreement between two or more parties for sufficient consideration for a specific performance. Contracting involves the discussion of the terms of the contract.