Question: 1. What is the difference between a unilateral and bilateral contract. How are each of type of contract accepted? 2. What is a counter offer?

1. What is the difference between a unilateral and bilateral contract. How are each of type of contract accepted?

2. What is a counter offer? What impact, if any, does a counter offer have on the original offer?

3. Who can accept an offer? How can someone accept an offer?

4. Contrast the difference in timing as to when revocations of an offer are effective and when acceptances are deemed to occur.

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