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In this video, were going to discuss (and distinguish) bilateral and unilateral contracts. So lets start with a bilateral contract. In a bilateral contract, the offeror is going to make a promise and shes going to get a promise in return from the offeree. So lets say we have Patty and David outside of Pattys house. And Patty makes a promise. She promises David that shell pay him $100. But in return for her promise, she wants David to make a promise. So David promises in return that hell paint Pattys fence. Good job Patty and David! You now have a bilateral contract. Davids promise to paint a fence, and Pattys promise to pay money. So in our bilateral contract, we have parties making promises to each other. But lets say instead of 2 promises, we only have one promise. Patty said if you paint the fence I promise to pay you $100. So at this point Patty has made a promise to pay. But David has promised nothing. And actually Patty doesnt even want a promise from David, David acc
