A unilateral contract is a contract created by an offer than can only be accepted by performance. A unilateral contract can be formed by an express offer stating that the offer can only be accepted through performance. Another example of a unilateral contract is a reward or a contest.
Definition from Nolo’s Plain-English Law Dictionary
An agreement to pay in exchange for performance, if the potential performer chooses to act. An example would be if you promise to pay someone $1,000 if they bring your car from Cleveland to San Francisco. Bringing the car is acceptance (and performance) of the agreement. Compare: bilateral contract
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:26 pm