0
A unilateral contract is an agreement in which only one party makes a promise or takes an action in exchange for a performance by another party. In this type of contract, the offeror's promise is contingent upon the performance of the act by the offeree, who is not required to make any promise in return. A common example is a reward contract, where one party promises to pay upon the completion of a specific task, such as finding a lost pet. The contract becomes binding when the offeree completes the requested action.
What else can I help you with?
Is a listing contract unilateral or bilateral?
unilateral contract
A reward poster is what kind of contract?
Unilateral contract.
1 When there is a unilateral mistake in what three types of situations may a contract not be enforced?
When there is a unilateral mistake, in what three types of situations may a contract not be enforced?
What is unilateral promise?
A unilateral promise in when just one of the parties to a contract agrees to do something. A bilateral promise is when both parties agree to perform under the contract.
What distinguishes a bilateral contract from a unilateral contract?
Simply put- A unilateral contract can be modified or changed by one party and a bi-lateral must be agred upon and accepted by both contractual parties involved.
What is the definition of ulfm?
UniLateral Fascists Movement
Explain provisions of unilateral mistake under Indian contract act?
Unilateral mistakes are said to occur when only one party is at mistake regarding the essential facts of a contract.
What is Unilateral Declaration of Independence?
That is a tautology. All declarations of independence are unilateral by definition. It just means one-sided.
An offer to form a unilateral contract is accepted by a promise to perform?
Yes
Which type of contract makes a promise in exchange for a particular act?
Unilateral
Why is an insurance contract a unilateral contract?
a unilateral contract is one in which one party 's promise is exchanged with other party's act. insurance contract is unilateral because one party ie the insured pays premium regularly and the insured ie the other party promises to compensate for any loss caused to the insured. here the act of paying premium by insured is exchanged with the promise of insurer.
How can misrepresentation affect a valid contract?
When someone is induced into entering into a contract as a result of a false statement.
