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What happens in a contract when only one party makes a promise to do or not to do something?
In a contract where only one party makes a promise to do or not do something, it is considered a unilateral contract. This means that one party is legally obligated to fulfill their promise, while the other party is not required to do anything unless they choose to accept the offer.
Who is the promisor in a contract?
the promisor in a contract may also called Obligor.The promisor is a law term that refers to the party who is on the receiving end of a promise. The party making the promise is the promisee.Actually it's the other way around- a promisee is on the receiving end, while the promisor is the one making the promise. In a bilateral contract (I promise to give you my car, you promise to give me $10,000), both parties are promisor and promisee because they are each making a promise and receiving a promise.
Is a copyright considered a contract?
No, but a license may be.
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 is a contract that contains a promise by both parties is?
A bilateral contract.
What word suggests promise?
contract, agreement, undertaking, commitmant, pledge, promise, engage, warrant. If they dont help, use a thesaurus!!!Some other words for covenant are: Contract, agree, stipulate, undertake, engage, bargain, pact, agreement contract (or 'contract of agreement')
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.
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.
What is a agreement or a promise called?
It can be called a covenant or a contract.
Is a contract a legally enforceable promise or set of promises?
yes any contract is leagaly binding
