Unilateral Contract
Insurance Dictionary:
Unilateral Contract
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Unilateral contract - An agreement by which one undertakes an express performance without receiving any express promise of performance from the other.
Union - An organization of workers formed for the purpose of collective bargaining.
unilateral contract
n. an agreement to pay in exchange for performance, if the potential performer chooses to act. A "unilateral" contract is distinguished from a "bilateral" contract, which is an exchange of one promise for another.
UNILATERAL CONTRACT, civil law. When the party to whom an engagement is made, makes no express agreement on his part, the contract is called uni-lateral, even in cases where the law attaches certain obligations to his acceptance. Civ. Code of Lo.
Unilateral contract
Definition
: a contract in which only one party is obligated to perform
compare bilateral contract in this entry ...
In unilateral contracts, the requirement that acceptance be communicated to the offeror is waived.
A unilateral contract is one in which there is a promise to pay or give other consideration in return for actual performance.
Bilateral Contract A contract in which both parties exchange promises to perform. Compare: unilateral contract
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Unilateral contract
Union
United States
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 See also: State, Contra, Contract, Agreement, United states
  
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