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Ask what is exchanged to create the obligation.

2
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In a bilateral contract, one promise is exchanged for another

3
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promise.

4
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A buyer promises to pay, and a seller promises to

5
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convey, on the agreed terms.

6
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In a unilateral contract, the offer asks for an act

7
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in exchange for a promise.

8
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Think of a reward offered for returning a lost item.

9
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The requested performance is the key to acceptance.

10
00:00:26,831 --> 00:00:29,536
Do not count the number of people or signatures to

11
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decide the category.

12
00:00:31,196 --> 00:00:34,516
Compare promise for promise with promise for performance.

13
00:00:34,899 --> 00:00:38,649
Rules about beginning performance and revocation can depend on the

14
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circumstances and governing law.

15
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Quick check:

16
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buyer and seller exchange promises to buy and sell.

17
00:00:45,778 --> 00:00:47,078
Which pattern is that?

18
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Bilateral.

19
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Each side makes a promise.