Question

Aaron and Donald sign a written contract in which Aaron agrees to supply raw materials to Donald’s company in return for set fees for one year. Which form of contract have both the individuals entered into? a. implied b. express c. unilateral d. informal

Answer 1

The correct answer is B. Both individuals have entered into an express contract.

Step-by-step explanation:

Both parties have signed an express contract, since in advance both parties have agreed on the obligations that each one must fulfill during the term of the contract. Therefore, the obligations of the parties are set forth in express clauses of the contract.

These contracts are clear with respect to the obligations of the parties, and they have assumed from the beginning of the contract what actions they should carry out.

Answer 2

The correct answer is C) Unilateral contract.

The kind of contract that both individuals entered into was a unilateral contract.

Aaron and Donald signed a written contract in which Aaron agrees to supply raw material to Donald’s company in return for set fees for one year. The kind of contract that both individuals entered into was a unilateral contract.

In business, a unilateral contract is an agreement between two people sign a contract. One of them, the offering part promise to pay an amount of money after the transaction occurred. The unilateral contract obliges the offeror to pay after a business activity or performance is done.