Bilateral or Unilateral Contract G. S. Adams, Jr., vice president of the Washington Bank & Trust Co., met with Bruce

| November 9, 2018

9.2
Bilateral or Unilateral Contract
G. S. Adams, Jr., vice president of the Washington Bank & Trust Co., met
with Bruce Bickham. An agreement was reached whereby Bickham agreed to do his
personal and corporate banking business with the bank, and the bank agreed to
loan Bickham money at 7.5 percent interest per annum. Bickham would have ten
years to repay the loans. For the next two years, the bank made several loans
to Bickham at 7.5 percent interest. Adams then resigned from the bank. The bank
notified Bickham that general economic changes made it necessary to charge a
higher rate of interest on both outstanding and new loans. Bickham sued the
bank for breach of contract. Was the contract a bilateral or a unilateral
contract? Does Bickham win? Bickham v. Washington Bank & Trust Company,
515 So.2d 457, Web 1987 La.App. Lexis 10442 (Court of Appeal of
Louisiana)
(Cheeseman 179)
Cheeseman, Henry R. Business Law, VitalSource for DeVry
University, 8th Edition. Pearson Learning Solutions, 02/2013. VitalBook
file.
The
citation provided is a guideline. Please check each citation for accuracy
before use.

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