A promise or group of promises is considered a contract if the law acknowledges them in some way or if it provides a remedy in the event of a breach is true .
A promiseor is a party that keeps a promise, and a promisee is the party to whom a promise is made. Sections 40, 41, and 42 of the Indian Contract Act of 1872 specify who is responsible for carrying out a contract.
An arrangement where the offeror promises payment only after doing a certain act is known as a unilateral contract. Unanimous decisions are frequently made when an offeror is openly requesting money in exchange for carrying out a certain act.
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