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Offers for both bilateral and unilateral contracts involve a promise by the offeror.

John offered to sell Jane his 1959 Thunderbird automobile. Before Jane could accept the offer, lightning struck the car, and it was totally destroyed. Which of the following is true?

An offer for a unilateral contract cannot be accepted by a mere promise to perform.

An offer made in anger, where a reasonable person would have known that it was made in anger, cannot result in a contract.

Mary promises to give her car to her friend. The friend sells his current car for a fairly low price because he is expecting to get a nearly new car from his rich and generous friend, Mary. Mary changes her mind and decides to keep the car. If the friend sues Mary, the court most likely will:

Promissory estoppel is an equitable doctrine that prevents the withdrawal of a promise by the promisor if it will adversely affect a promisee who has changed his or her position in justifiable reliance on the promise.

Consideration can best be described as:

To meet the contractual requirement, consideration must be:

The adult party to a contract with a minor has the option of choosing whether to enforce the contract.

The imposition of a best efforts clause is generally viewed as sufficient consideration.