Two types of contracts: • Bilateral involves two parties engaging in

Question

a promise.
• Unilateral is one direction; an offer is made but not
accepted
from the above information, provide a sport related example for each

Answer 1

Here are sport-related examples for both types of contracts:

Bilateral Contract Example:

In professional sports, consider a player signing a contract with a team. The team promises to pay the player a certain salary in exchange for the player's commitment to play for them for a specified duration. In this case, both parties have made promises: the player agrees to perform at a professional level, and the team agrees to compensate the player with money and benefits. This is a bilateral contract as both the player and the team are bound by their respective promises.

Unilateral Contract Example:

A coach offers a reward for a particular achievement, such as a $1,000 bonus to any player who scores a hat trick (three goals in a single game) during the season. In this scenario, the coach has made a unilateral offer: the promise of a reward is contingent upon the player achieving the specific goal. The players do not need to accept the offer beforehand; rather, if any player scores three goals in a single game, they automatically earn the reward. The contract is unilateral because the offer is only made by one party (the coach), and only fulfilled by the actions of another (the player).