In a unilateral contract, which party is bound to perform?

In a unilateral contract, the offeror is the only party that is bound to perform upon the completion of certain conditions set forth in the contract. This type of contract involves one party making a promise in exchange for the performance of a specific act by the other party. For example, if someone offers a reward for finding a lost pet, the offeror (the person offering the reward) is obligated to pay the reward once someone fulfills the condition of finding the pet. The offeree, on the other hand, is not obligated to perform or take any action unless they choose to accept the terms by performing the act. Therefore, it is the offeror who is bound to fulfill their promise upon the completion of the specified act, making the answer correct.