1 Answer
### Unilateral Obligation:
A unilateral obligation involves a promise made by one party to perform an action in exchange for something, but only one side is obligated to act.
Example:
A reward offer. Imagine you lost your pet, and you post an ad offering a reward of $100 to anyone who finds and returns it. Here, you (the person offering the reward) are the only one with an obligation. The person who finds and returns the pet is not obligated to do so — they can choose to act or not, but if they do, they get the reward.
Bilateral Obligation:
A bilateral obligation involves a mutual exchange where both parties are obligated to perform an action or fulfill a promise.
Example:
A sales contract. Suppose you agree to sell your phone to someone for $200. In this case, you have an obligation to give the phone, and the buyer has an obligation to pay you $200. Both parties have duties that must be fulfilled for the agreement to be complete.
In summary:
A unilateral obligation involves a promise made by one party to perform an action in exchange for something, but only one side is obligated to act.
Example:
A reward offer. Imagine you lost your pet, and you post an ad offering a reward of $100 to anyone who finds and returns it. Here, you (the person offering the reward) are the only one with an obligation. The person who finds and returns the pet is not obligated to do so — they can choose to act or not, but if they do, they get the reward.
Bilateral Obligation:
A bilateral obligation involves a mutual exchange where both parties are obligated to perform an action or fulfill a promise.Example:
A sales contract. Suppose you agree to sell your phone to someone for $200. In this case, you have an obligation to give the phone, and the buyer has an obligation to pay you $200. Both parties have duties that must be fulfilled for the agreement to be complete.
In summary:
- Unilateral obligation: One party is obligated (e.g., reward offer).
- Bilateral obligation: Both parties have obligations (e.g., sales contract).