What distinguishes a unilateral contract?

A unilateral contract is characterized by a situation where only one party makes a promise, and the other party is not required to make any promises in return—rather, the second party’s performance or completion of a specified action constitutes acceptance of the offer.

In this context, the first party offers something, typically a reward or payment, in exchange for a specific action. This means that only the offeror is bound to the terms of the contract until the offeree performs the requested action. For instance, if someone promises a reward for finding a lost pet, the person who finds the pet is not required to promise anything back; they simply perform the task to earn the reward.

Other answer choices describe characteristics that do not accurately define a unilateral contract. For example, the notion that both parties make promises describes a bilateral contract, while the requirement for a contract to be in writing relates to certain contracts that require formalities under the Statute of Frauds. The idea of revocation after acceptance does not align with how unilateral contracts operate because once the offeree starts to perform the requested action, the offeror may be bound. Thus, the focus on one party seeking performance rather than a reciprocal promise aptly captures the essence of what makes a contract unilateral.