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UNILATERAL CONTRACT by Alice Ken
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UNILATERAL CONTRACT |
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Education,Law,Writing
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The contract is an agreement between two or more parties, where one party makes an offer and the other party accepts the offer. Unilateral is a type of a contract that is created by the offer and can only be accepted through performance. In a unilateral contract, the party to the contract is not obligated to act when the contract is sought. The unilateral contract is performed by the express performance. The offeror is legally obligated to fulfill the contract if the offeree acts on the promise placed by the offeror. The court distinguishes unilateral contract from the bilateral contract by considering whether one party or even both parties provided the consideration and on what basis was the consideration provided. The unilateral contract becomes enforceable by the court when one party agrees to complete the act placed by the promisor. Unlike the bilateral contract, the unilateral contract does not bind the promisee unless in the situation where the promisee agrees to do the obligations which are highlighted by the promisor in the offer. Unilateral contracts also differ from the bilateral contract on the way which parties exchange the multi promises. The reward offers are commonly found in unilateral contracts. The unilateral contract cannot be revoked once the performance of the contract has begun unless when the performance has not been completed within the stated time.
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