Question

FacePage Consultants and HB Automotive sign a document that states FacePage will create a marketing campaign for HB to be conducted during the winter of 2020. HB will pay FacePage $5,000 in two paymemts. The parties have entered:

A. an executed written contract.

B. an express, bilateral and executory contract.

C. an implied in fact contract

D. a unilateral contract

Answer 1

The answer is option “b” - an express, bilateral and executory contract.

Here the contract will be performed at a future date (i.e. during the winter of 2020) and hence it will be regarded as an executory contract. Secondly since the contract is in writing and all terms and conditions are stated clearly in the signed document it will be regarded as an express contract. Lastly it is a bilateral contract as both parties will perform their respective obligations in a future date.