Question

At the beginning of the race, Jack offers to pay anyone who can run a mile in one hour $100. Assuming someone runs a mile in one hour, Jack has entered into what type of contract?

Answer 1

Exchange and Unilateral Contract

Step-by-step explanation:

A unilateral is offer to the people of earning financial value in exchange of performing a particular task. The person Jack has announced the $100 reward for the person who will run a mile within one hour. This reward will be given to only those people who starts its performance and is a Unilateral contract. The semi done performance is not entitled for this reward and the only person eligible for this task would be the one who has completely performed the task.