Because only the insurer makes a legally enforceable promise to perform under an insurance policy, the contract is classified as:
a.Unilateral
b.Executed
c.Bilateral and aleatory
d.Bilateral
Explanation
Unilateral means only ONE party (the insurer) is legally bound. The insured can simply stop paying premium without being sued for breach. Bilateral contracts bind both sides; an executed contract is one already fully performed.
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