Louisiana Bail Bonds Practice Exam

In a unilateral contract, how many parties are obligated to perform?

1. None

2. One

3. Two

4. Three

The correct answer is: One

In a unilateral contract, only one party is obligated to perform their part of the agreement. This type of contract typically involves one party making a promise or offer, which can be accepted by the other party through their performance of a specific action, but the other party has no obligation to perform unless they choose to accept the offer. For instance, a classic example is a reward contract, where one party offers a reward for the return of lost property. The person who finds and returns the property is not obligated to do so, but if they choose to, they are entitled to the reward. This understanding emphasizes that the responsibility to fulfill the contract rests solely on the party making the offer, which is why there is only one obligated party in a unilateral contract.