Legal definition of unilateral contract
Contract Drafting, Review & Negotiation Legal Terminology
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.
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Timothy E CowansAttorney at LawPRACTICE AREA: Labor & Employment Law, Workers Compensation
Roy J KonrayAttorney at LawPRACTICE AREA: Professional Malpractice, Administrative Law, Labor & Employment Law, Workers Compensation
Thomas M AdkinsAttorney at LawPRACTICE AREA: Personal Injury, Labor & Employment Law, Workers Compensation
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