English Contract Law - Both unilateral and bilateral offers
It is imperative that you are able to distinguish between unilateral and bilateral proposals. Bilateral offers include the exchange of one offer (or promise) for another. For instance, in exchange for Billy agreeing to sell Olga the laptop for £800, Alice pledges to pay £800 for it. Billy might, however, make a unilateral offer in which he would agree to sell the book to the first person to bring him £800. Billy will be obligated to sell the book to Alice even though Alice is under no obligation to bring him £800 and is the first person to do so. A bilateral offer is one made in return for another's commitment or offer. A unilateral offer is one that is offered to a single person or to a larger group of people, including the general public, in exchange for a specific act.
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