Saturday, October 27, 2007

Bifurcated means 2 pronged

2 types of offers

Unilateral offer - a promise made looking for an act in response (1 promise for an act)

Unilateral - If you paint my house i will pay you $1000

Bilateral offer - An offerer intend to receive a promise in response for a promise (1 promise for a promise)

Bilateral - If you promise to paint my house i will pay you $1000

***Recognize the difference

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