Engineering Board Exam Reviewer · ECE · easy
A contract in which both parties have obligations to each other, such as a sale, is called a:
- Bilateral (reciprocal) contract
- Unilateral contract
- Gratuitous contract
- Aleatory contract
Answer
A. Bilateral (reciprocal) contract
Solution
Each party is both creditor and debtor.
More ECE questions
- Contracts that are valid but may be rescinded because they cause economic damage (lesion) to a party or third persons, such as those made…
- Under the Statute of Frauds, which of the following must be in writing to be enforceable?
- A contract entered into in the name of another by one who has no authority is:
- A void contract:
- Contracts whose cause, object or purpose is contrary to law, morals, good customs, public order or public policy are:
- Under Article 1330, consent given through mistake, violence, intimidation, undue influence or fraud makes the contract:
- An acceptance that adds conditions or changes the terms of the offer is legally a:
- The three stages of a contract are:
- Contracts that require a specific form for validity, such as a donation of real property, are called:
- Contracts that are perfected by mere consent are called: