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question I get asked heres what it is what is the difference between a unilateral contract and a bilateral contract now I want you to comment down below if this is your conception this is your idea of what the difference between bilateral and unilateral is everyone always says unilateral is with one party and bilateral is with two parties that is not the case what happens here is this you have to understand there has to be multiple parties in every contract every contract why one of the essential elements of a valid contract is offer an acceptance now I have amazing conversations with myself Im sure you might as well however you cannot have offering acceptance or a meeting of the minds with just one party doesnt work so every contract has multiple parties so Stu weve gotten that out of the way so now whats the difference between unilateral and bilateral well a bilateral contract thats going to be lets just say this bilateral is the most common contract that is a promise that is