Which type of contract, bilateral or unilateral, is more common in business?

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Question
Business Law by Henry R. Cheeseman, Seventh Edition

Writing Assignment for Unit Three
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Use a standard essay format for responses to all questions (i.e., an
introduction, middle paragraphs and conclusion).

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Responses must be submitted as a MS Word Document only, typed doublespaced, using a standard font (i.e. Times New Roman) and 12 point type size.
Word count is NOT one of the criteria that is used in assigning points to writing
assignments. However, students who are successful in earning the maximum
number of points tend to submit writing assignments that fall in the following
ranges:

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Graduate courses: 500 – 750 words or 2 – 3 pages..

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Plagiarism All work must be free of any form of plagiarism. Put written answers
into your own words. Do not simply cut and paste your answers from the Internet
and do not copy your answers from the textbook. Be sure to refer to the course
syllabus for more details on plagiarism and proper citation styles.

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QUESTION:
Please answer ONE of the following:

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1) Which type of contract, bilateral or unilateral, is more common in business?
Why? Under what circumstance would someone prefer one or the other? What are
the advantages of each type for the offeror? For the offeree?

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2) What problems in connection with offer and acceptance might arise in an online
auction situation? Are there any rules that could address these?

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3) Ginger is a Certified Public Accountant in practice by herself in Centerville.
She merges her practice with that of Heap, Big, and Co. Part of the merger
agreement states that if Ginger should ever leave Heap, Big, and Co., she promises
not to practice public accounting in Centerville for a period of five years after
leaving. Discuss the requirements for a valid covenant not to compete and discuss
whether or not this particular covenant is enforceable.

 

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