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What is the difference between unilateral and multilateral contracts?
Wiki User
∙ 13y ago
When the party to whom an engagement is made, makes no express agreement on his part, the contract is called uni-lateral, even in cases where the law attaches certain obligations to his acceptance. A loan of money, and a loan for use, are of this kind.
Wiki User
∙ 15y ago
Wiki User
∙ 13y agoMost contracts are bilateral, meaning there are two parties to the contract.
Some contracts are multilateral, meaning there are many parties to the contract.
Finally, some contracts are unilateral, meaning there is a promise made by one party before a reciprocal agreement is secured from another party. In such a situation, one party, known as the offeror, makes a promise in exchange for an act (or abstention from acting) by another party, known as the offeree. If the offeree acts on the offeror's promise, the offeror is legally obligated to fulfill the contract, but an offeree cannot be forced to act (or not act), because no return promise has been made to the offeror. After an offeree has performed, only one enforceable promise exists, that of the offeror.
A good example is a reward offered by somebody to the general public. Nobody can be compelled to fulfill the condition of the reward, but if they do, that person can sue for breach of contract if the party who offered the reward refuses to pay.
Wiki User
∙ 12y agounilateral occurs when we make an offer to everybody n we don't know with who we will make contract or an agreement soon.
for example , mimie l0st her dog and really love her dog.
s0, she advertise at newspaper about that , also give reward for those who are found and bring the dog to her.
once a person came n gave d0g to her, theres contract or agreement.
however, mimie d0en not know the person at all.
she just make an offer to everbody and the person who bring that dong to her and give reward to he/she as mimie has promise.
that's what we called unilateral.
Wiki User
∙ 14y agoWhen an offer is called a unilateral offer that means acceptance to the offer must be shown by performance. Hope this helps.
Wiki User
∙ 13y agoa unilateral aggreement contaning a promise to perform made by one party because the other party has already performed.
manoj sitoula
Wiki User
∙ 12y agoyes
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The unilateral contract with the PepsiCo and Harrier Jet, this is a one sided agreement. This is where they used the Harrier jet to get customers to buy their product to win points to earn something in return but was not a promise. Only one party obligated to do something and that is usually to pay just like the Seattle man did when buying the points. Contracts are voluntary agreements between the parties which one makes an offer while the other accepts it and there is no mutual contract.
What is the difference between an attachment to a contract and an addendum to a contract?
Addendum's are often added to contracts in order to add or make changes to the contract. Attachments on a contract are often found in e-mails.
Difference between bilateral and unilateral tolerance?
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