Legal Terminology and Law Definition of Contracts

unilateral contract
Unilateral contract is also known as “a performance for a promise”. Is a contract where only one party to the contract makes a promise to perform if the to the party does. Example of a unilateral contract: "I will pay you $500 if you bring my lost dog to me." Finding the dog is acceptance. See also: bilateral contract consideration contract performance. … Full Definition »
Law topic: Contract Drafting, Review & Negotiation << Legal issue: Contracts
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contractor
Contractor means either a business entity or a natural person that provides services or goods under terms of a contract. Most commonly term contractor is used among builders, where a general contractor either does the job himself or hires subcontractors to perform fractions of jobs. … Full Definition »
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