James tells Leonard: "If you promise to mow my lawn next Saturday, I'll promise to pay you $40 next Saturday in exchange."

Using the above scenario, this question has four parts:

1. Who is the offeror, and who is the offeree, in this scenario?
2. Has the offeror proposed a unilateral or bilateral contract, and why?
3. What does the offeree need to do to accept the offer and bind the parties to the agreement?
4. If the parties form this contract, what consideration is the offeror giving, and what consideration is the offeree giving?