Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie's house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $75, then this is an implied, bilateral, executory contract.

True / False.

Question

Leonidas

Business

20 May, 14:04

Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie's house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $75, then this is an implied, bilateral, executory contract.

True / False.

+5

Answers (1)

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Tobias · Answer 1

Answer: False

Explanation:

An implied contract is when two or more parties have no written contract, but there is an obligation based on fairness. A bilateral contract is an agreement between two parties whereby each person agrees to fulfill his or her side of the bargain

An executory contract is a contract which has not yet been fully performed and both sides still have important performance remaining. The contract is not an implied, bilateral, executory contract.

Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie's house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $75, then this is an implied, bilateral, executory contract.True / False.

Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie's house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $75, then this is an implied, bilateral, executory contract.

True / False.