Question

How does a unilateral contract differ from a bilateral contract? If I place a reward for my lost dog and you find my dog; but never saw the reward poster on the trees and return the dog to me, can you collect the reward?

Answer 1

Difference between unilateral contract and bilateral contract are as follows-

1. In unilateral contract, obligation of one party is confirmed while in bilateral contract, obligation of both the parties are due.

2.consideration are executed in unilateral contract while considerations are executory in bilateral contracts.

3. in unilateral contract only one party is legally bound, while in bilateral contract, both the parties are legally bound.

Yes, one can collect the contractual reward even if he did not see the poster because the obligation of one party is already defined and he is legally bound to pay the other party, who performs the act.