inverse unilateral contract?

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alllucknotalent
Posts: 38
Joined: Thu Mar 11, 2010 3:10 pm

inverse unilateral contract?

Postby alllucknotalent » Wed Apr 27, 2011 8:44 pm

contracts argument

Person 1- "I will give you my baseball if you give me $10"
Person 2- doesn't say anything but gives the person $10 the next day

was this a unilateral offer by person 1 because the contract was made by person 2's performance or
is it a bi-latteral because the performance is the consideration...

havent went over bilateral unilaterral in a semester and want to end a debate

StyrofoamWar
Posts: 126
Joined: Mon Dec 14, 2009 6:16 pm

Re: inverse unilateral contract?

Postby StyrofoamWar » Wed Apr 27, 2011 9:26 pm

alllucknotalent wrote:contracts argument

Person 1- "I will give you my baseball if you give me $10"
Person 2- doesn't say anything but gives the person $10 the next day

was this a unilateral offer by person 1 because the contract was made by person 2's performance or
is it a bi-latteral because the performance is the consideration...

havent went over bilateral unilaterral in a semester and want to end a debate


Took this last semester, could be very rusty, but here goes:

Offers made face-to-face typically expire if not accepted during that interaction. Person 2 didn't say anything or respond in any way, no consideration has occurred to create an option contract (keep the offer open), offer is terminated and person 2's tender after the fact is irrelevant.

EDIT: Realized I was assuming P1 wanted to get out of the "contract", which you didn't say. Whoops.

Promise in exchange for performance (I promise to pay you if you do X)= offer looking to unilateral contract

Promise in exchange for promise (I promise to pay you if you promise to give me your basketball) = offer looking to bilateral contract

Performance is consideration (detriment induced by promise) as well, but the presence of consideration doesn't make this a bilateral contract.

alllucknotalent
Posts: 38
Joined: Thu Mar 11, 2010 3:10 pm

Re: inverse unilateral contract?

Postby alllucknotalent » Wed Apr 27, 2011 9:49 pm

StyrofoamWar wrote:
alllucknotalent wrote:contracts argument

Person 1- "I will give you my baseball if you give me $10"
Person 2- doesn't say anything but gives the person $10 the next day

was this a unilateral offer by person 1 because the contract was made by person 2's performance or
is it a bi-latteral because the performance is the consideration...

havent went over bilateral unilaterral in a semester and want to end a debate


Took this last semester, could be very rusty, but here goes:

Offers made face-to-face typically expire if not accepted during that interaction. Person 2 didn't say anything or respond in any way, no consideration has occurred to create an option contract (keep the offer open), offer is terminated and person 2's tender after the fact is irrelevant.

EDIT: Realized I was assuming P1 wanted to get out of the "contract", which you didn't say. Whoops.

Promise in exchange for performance (I promise to pay you if you do X)= offer looking to unilateral contract

Promise in exchange for promise (I promise to pay you if you promise to give me your basketball) = offer looking to bilateral contract

Performance is consideration (detriment induced by promise) as well, but the presence of consideration doesn't make this a bilateral contract.


so it is unilateral?




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