Unilateral Agreement
Content
Definition
A Unilateral Agreement is a contract in which one party agrees to make a promise or agreement without requiring the other party to reciprocate.
Usage and Context
A unilateral agreement involves one party making a promise without needing a return promise.
Frequently asked questions
- What is a unilateral agreement? A unilateral agreement is a contract where only one party makes a promise.
- What is a unilateral contract Quizlet? A unilateral contract on Quizlet is an agreement where one party makes a promise in exchange for an action by another party, fulfilled when the action is performed.
- Is a unilateral contract offer a promise for a promise? No, a unilateral contract offer is a promise for a performance, not a promise for a promise.
Benefits
A unilateral agreement lets one party make a commitment without requiring reciprocal obligations, simplifying contracts.
Conclusion
A unilateral agreement allows one party to commit without needing reciprocal obligations, simplifying contracts.
