Final answer:
In a unilateral contract, a promise is made in exchange for an act or forbearance to act, and the answer is True. This differs from a bilateral contract, where a promise is exchanged for another promise.
Step-by-step explanation:
In a unilateral contract, a promise is indeed made in exchange for an act or forbearance to act. The answer to the question is True. In a unilateral contract, one party, the offeror, makes a promise in exchange for the performance of an act by the other party, the offeree. This type of contract is distinct from a bilateral contract, where a promise is exchanged for another promise. An example of a unilateral contract would be when someone offers a reward for the return of a lost dog; the offeror's promise to pay the reward is contingent upon the act of returning the dog by the offeree.