Lana and Danny were talking to each other again the next day. This time, Lana...
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Lana and Danny were talking to each other again the next day. This time, Lana said, I promise to pay you $250 if you promise to walk across the Latchford bridge. Danny replied, in exchange for your promise to pay $250, I promise to walk across the Latchford bridge.
This situation is an example of:
A.
A unilateral contract.
B.
A simple exchange of promises with no legal effect because the contract was verbal.
C.
A bilateral contract.
D. Both a unilateral and a bilateral contract.
2. Dutt and Noah had completed an agreement of purchase and sale for widgets. Noah was the buyer and Dutt was the seller. Unknown to both Dutt and Noah, a cargo boat carrying the widgets was destroyed the night before by a bolt of lightning in the middle of the Atlantic Ocean. Noah sues Dutt in Superior Court for breach of contract.
The court will declare that there was frustration resulting in a discharged contract.
True
False
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