Answer:
bilateral contract.
Step-by-step explanation:
Bilateral contract can be regarded as a type of binding agreement, it can be explained as an exchange of promise that exist between two parties on a particular action/activities. Both promise of the two parties is essential in bilateral contract since one promise of the first party determine the consideration for other. Therefore, In the case described in the question, whereby matt agrees to pay ted $100 in exhange for Ted's promise to paints Matt's house
can be regarded as an example of bilateral contract.