Here it is for you, I thought it would be interesting to hear what you first thought was, honestly:Q: An Option once exercised is considered:1: Unilateral executed2: Bilateral executory3: Unilateral executory4: Bilateral executedThere is 1 single answer so none of that 'depends' stuff.

When you do an assignment you can end up having two seperate bilateral contracts, between the seller to you and you and the end buyer.

It is a bilateral agreement and expires in 180 days, and if the Buyer needs more time to close (for example, more time to obtain financing) the closing date can be extended ONCE only for another 180 days if requested in writing.

If you were to just strike out your name, change, and initial you would be altering a bilaterally binding agreement i.e. the tenant agreed to rent from you, not from your LLC and visa versa.

@Courtney DuongHere is the challenge you created for yourselfYou signed a contract, this is a bi-lateral agreement.

Hello Account ClosedIm not a real estate atty, but I am a real estate broker in Missouri.Earnest money is not required, but in court, in order to be an enforcable contract (depends on the state), it needs to have a bi-lateral agreement.

Contracts in most states require a bi-lateral agreement.  

You also can not assign an installment obligation to a third party it's a bilateral contract between the first and second party.

If you have an offer ie; A Fully Bilateral Contract with the seller and subsequent offers that come in should be held by the listing agent.

@Kate KoellerThere was a good video by Steve Rozenberg, "What I wish I would've know about being a landlord" you should check out, if you haven't.Some good highlights are: The lease is a bilateral contract.