Contracts
A bilateral contract in real estate is one where:
AOnly one party makes a promise
BBoth parties exchange promises and are mutually obligated✓ Correct
CThe contract involves two properties
DTwo brokers are involved
Explanation
A bilateral contract involves mutual promises—each party is both a promisor and promisee. A typical real estate purchase contract is bilateral: the seller promises to convey, and the buyer promises to pay.
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