What are types of contracts?

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Accepted Answer

Types of contracts include written contracts, oral contracts, implied contracts, bilateral contracts, unilateral contracts, and void contracts.

Written contracts: Contracts that are documented in writing and signed by all parties.
Oral contracts: Contracts that are agreed upon verbally without a written document.
Implied contracts: Contracts that are inferred based on the actions or conduct of the parties involved.
Bilateral contracts: Contracts where both parties make promises to each other.
Unilateral contracts: Contracts where one party makes a promise in exchange for a specific act from the other party.
Void contracts: Contracts that are not legally enforceable, often due to illegality or lack of capacity.

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