unilateral contract

unilateral contract
unilateral and bilateral contracts
A unilateral contract is one in which one party makes an express engagement or undertakes a performance, without receiving in return any express engagement or promise of performance from the other. Bilateral (or reciprocal) contracts are those by which the parties expressly enter into mutual engagements, such as sale or hire. Kling Bros. Engineering Works v. Whiting Corporation, 320 Ill.App. 630, 51 N.E.2d 1004, 1007.
When the party to whom an engagement is made makes no express agreement on his part, the contract is called unilateral, even in cases where the law attaches certain obligations to his acceptance. Essence of a "unilateral contract" is that neither party is bound until the promisee accepts the offer by performing the proposed act. King v. Industrial Bank of Washington, D.C.App., 474 A.2d 151, 156.
It consists of a promise for an act, the acceptance consisting of the performance of the act requested, rather than the promise to perform it. Antonucci v. Stevens Dodge, Inc., 73 Misc.2d 173, 340 N.Y.S.2d 979, 982
+ reciprocal contract
A contract, the parties to which enter into mutual engagements. A mutual or bilateral contract

Black's law dictionary. . 1990.

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  • unilateral contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. unilateral contract …   Law dictionary

  • unilateral contract — unilateral and bilateral contracts A unilateral contract is one in which one party makes an express engagement or undertakes a performance, without receiving in return any express engagement or promise of performance from the other. Bilateral (or …   Black's law dictionary

  • unilateral contract — ➔ contract1 * * * unilateral contract UK US noun [C] LAW ► a formal agreement in which only one of the people or groups involved agrees to do something → Compare BILATERAL CONTRACT(Cf. ↑bilateral contract) …   Financial and business terms

  • Unilateral contract — Unilateral U ni*lat er*al, a. [Uni + lateral: cf. F. unilat[ e]ral.] 1. Being on one side only; affecting but one side; one sided. [1913 Webster] 2. (Biol.) Pertaining to one side; one sided; as, a unilateral raceme, in which the flowers grow… …   The Collaborative International Dictionary of English

  • Unilateral Contract — A legally enforceable promise between legally competent parties to do or refrain from doing a specified, legal act or acts. In a unilateral contract, one party pays the other party to perform a certain duty. If the duty is fulfilled, the party on …   Investment dictionary

  • unilateral contract — A contract in which one party (the promisor) undertakes to do or refrain from doing something if the other party (the promisee) does or refrains from doing something, but the promisee does not undertake to do or refrain from doing that thing. An… …   Big dictionary of business and management

  • unilateral contract — contract which places an obligation on only one side …   English contemporary dictionary

  • unilateral contract — A contract in which there is it promise on one side only, the consideration therefor being an act or something other than another promise. 17 Am J2d Contr § 5. The term unilateral has also been used to describe what is sometimes denominated a… …   Ballentine's law dictionary

  • unilateral contract — noun An agreement in which an offerors offer can be accepted only by the performance of an act by the offeree; a promise for a performance …   Wiktionary

  • unilateral contract — noun a one sided agreement whereby you promise to do (or refrain from doing) something in return for a performance (not a promise) • Hypernyms: ↑agreement, ↑understanding …   Useful english dictionary

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