James Smith Promised his son William Smith when he graduated that if he moved to the Island of Nantucket, Massachusetts to be the V.P of corporate finance, he will pay him $150,000 annually and after two years of working James will transfer to him forty percent (40%) of the common stock in the company...
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Considering that William can not collect 40% of the stock unless he's already worked as VP for two years makes that part of the contract unilateral, and the section of the contract that states that James will pay William $150,000 annually, is a Bilateral contract; a promise for a promise, he promised to pay him the money if William promised to work as VP of corporate finance...
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