A unilateral contract is a contract created by an offer that can only be accepted by performance.
In a unilateral contract, there is an express offer that payment is made only by a party’s performance. Common examples...
commercial transactions
unincorporated business organization (UBO)
An unincorporated business organization (UBO) is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property...
United States Munitions List
The United States Munitions List is a list of defense articles, services and related technical data designated as such by the federal government. These defense items are controlled by the Arms Export Control Act. The List is divided into...
United States Postal Service (USPS)
The United States Postal Service (USPS) is an independent agency of the Executive Branch of the United States government that delivers physical mail across the United States, to U.S. territories, and to military and diplomatic installations...
universal life insurance
Universal life insurance is a type of life insurance that lasts for the life of the insured and has flexible premiums, death benefits, and cash value. Universal life insurance operates similarly to whole life insurance in that the insured...
unjust enrichment
Unjust enrichment occurs when Party A confers a benefit upon Party B without Party A receiving the proper restitution required by law. This typically occurs in a contractual agreement when Party A fulfills their part of the agreement and...
unseasoned issuer
An unseasoned issuer is any issuer subject to period reporting requirements, i.e. is a public company, but who is not eligible to file a Form S-3 or a Form F-3 for a primary offering, i.e. is not a seasoned issuer or a well-known seasoned...
usage of trade
Under Article 2 of the Uniform Commercial Code usage of trade is often used to aid in interpreting contracts and to give terms particular meanings. A usage of trade is a practice or method of dealing having such regularity of observance in a...
useful products doctrine
The useful products doctrine is a principle in environmental law that provides an exception to the liability for hazardous waste disposal by distinguishing between waste and products that have economic value and are used for intended purposes...
valuable consideration
Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other...