PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
Unilateral contract
A unilateral contract is an offer of a promise that is accepted by completing the requested performance rather than by making a return promise.
Contracts
Contract formation
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Unilateral contract mean?
A unilateral contract is an offer of a promise that is accepted by completing the requested performance rather than by making a return promise.
How do you separate the nearest exam answer?
Unilateral means promise for performance. Bilateral means promise for promise.
What changes or stays the same in Georgia?
The national rule applies in Georgia. An option is unilateral in effect before exercise because the optionee has the right but no obligation to buy.
An owner promises a reward to a broker who produces a stated result, and no one is bound to act until the required performance occurs.
One party speaking first does not make a contract unilateral. Examine the method of acceptance.
Memory cue: One party speaking first does not make a contract unilateral.PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
Which statement correctly explains Unilateral contract?
- A
A unilateral contract is an offer of a promise that is accepted by completing the requested performance rather than by making a return promise.
- B
A bilateral contract is formed by an exchange of promises, with each party becoming both a promisor and a promisee.
- C
An option contract gives the optionee the right, but not the obligation, to buy or lease property on stated terms within a stated time, in exchange for consideration supporting that promise.
- D
An executed contract is a contract in which all parties have completed the promised performance.
Unilateral contract is correct. A unilateral contract is an offer of a promise that is accepted by completing the requested performance rather than by making a return promise. Unilateral means promise for performance. Bilateral means promise for promise. The national rule applies in Georgia. An option is unilateral in effect before exercise because the optionee has the right but no obligation to buy.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Contracts complete lesson
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