Read the overview below and complete the activities that follow. Contracts are classified in a number of different ways. Different classifications are useful for different purposes. This interactive reviews the primary ways by which we classify contracts. CONCEPT REVIEW: Review the section "Classification of Contracts" in your text to understand the differences among bilateral, unilateral, express implied, formal, and informal contracts The diagram below illustrates three different ways of categorizing contracts: (1) bilateral vs. unilateral; (2) express vs. implied, and (3) formal vs. informal. First, roll over each title and read the scenarios given. Then drag and drop the title into the appropriate circle on the diagram. $4,000 Written Terms Letter of Credit Handwritten Agreement Medical Emergency Reward for Wallet Chimney Formal Contracts Bilateral Contracts Implied Contracts Express Contracts Informal Contracts Unilateral Contracts Read the overview below and complete the activities that follow. Contracts are classified in a number of different ways. Different classifications are useful for different purposes. This interactive reviews the primary ways by which we classify contracts. CONCEPT REVIEW: Review the section "Classification of Contracts" in your text to understand the differences among bilateral, unilateral, express implied, formal, and informal contracts The diagram below illustrates three different ways of categorizing contracts: (1) bilateral vs. unilateral; (2) express vs. implied, and (3) formal vs. informal. First, roll over each title and read the scenarios given. Then drag and drop the title into the appropriate circle on the diagram. $4,000 Written Terms Letter of Credit Handwritten Agreement Medical Emergency Reward for Wallet Chimney Formal Contracts Bilateral Contracts Implied Contracts Express Contracts Informal Contracts Unilateral Contracts