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inverse unilateral contract?
Posted: Wed Apr 27, 2011 8:44 pm
by alllucknotalent
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
Re: inverse unilateral contract?
Posted: Wed Apr 27, 2011 9:26 pm
by StyrofoamWar
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.
Re: inverse unilateral contract?
Posted: Wed Apr 27, 2011 9:49 pm
by alllucknotalent
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?