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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.
An offer to form a unilateral contract is accepted by a promise to perform?
Yes
What is the consequences of rescission of voidable contract?
The consequences of rescission of voidable contract is that the other party does not need to perform any promise contained in the contract.
If Only one party to an insurance contract has made a legally enforceable promise what kind of contract is it?
If only one party to an insurance contract has made a legally enforceable promise, it is considered a unilateral contract. In a unilateral contract, one party (usually the insurer) makes a promise in exchange for an act or performance by the other party (the insured), but the insured is not obligated to perform. The contract becomes binding only when the insured fulfills the required action, such as paying a premium or filing a claim.
What is a contract that contains a promise by both parties is?
A bilateral contract.
What is the main difference between a contract and a promise?
in a contract you are legally bound by it and a promise is something u just make someone. so if u break your contract you could go to jail but if u break a promise you might lose a friend or who ever you made that promise with.
Can you sue a company for promising i have proof of this promise to deliver a product to you at a certain time and not delivering the product when promised?
You may sue for breach of this promise only if the failure to make the delivery on time is a material breach of the contract and if you suffered monetary damages as a result of the breach. The promise to deliver at a specific time is not automatically a material provision of the contract per se although it can be made so within the contract itself. Never the less, even if it is a material provision and if it has been breached, you may not sue if you have suffered no monetary damages as a result of the failure to make an on time delivery.
What is a forward commitment?
A forward contract is legally binding promise to perform some actions in the future . Forward commitments include forward contracts , future contracts and swaps
Definition of primary promise?
promise to pay another's debt that is not conditioned upon the other person's failure to pay promise to pay another's debt that is not conditioned upon the other person's failure to pay
How do you get your parents to keep a promise?
Get them to sign a contract.
What is a promise or a agreement?
It can be called a covenant or a contract.
What dose renege mean?
Renege means to go back on a promise, contract, undertaking.
