BILATERAL CONTRACTS

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The Federal Energy Regulatory Commission (“FERC”) regulates interstate electricity markets. To that end, FERC “authorized the creation of ‘regional transmission organizations,’ to oversee [] multistate markets.” See PPL EnergyPlus, LLC v....

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Overview

The mailbox rule (also called the posting rule), which is the default rule under contract law for determining the time at which an offer is accepted, states that an offer is considered accepted at the time that the acceptance is communicated (...

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Overview

Within contract law, promissory estoppel refers to the doctrine that a party may recover on the basis of a promise made when the party's reliance on that promise was reasonable, and the party attempting to recover detrimentally relied on the...

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Definition

A unilateral contract is a contract created by an offer than can only be accepted by performance.

Overview

In a unilateral contract, there is an express offer that payment is made only by a party's performance. Another example of a...