Difference between revisions of "Unilateral contract"
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This is in contrast with a [[bilateral contract]]. | This is in contrast with a [[bilateral contract]]. | ||
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Latest revision as of 21:12, May 8, 2008
A unilateral contract is an agreement by which one undertakes an express performance without receiving any express promise of performance from the other.
A classic example is a promise by the owner of a house to pay $1000 to a painter, who receives payment only once he has given "performance" by painting the house.
This is in contrast with a bilateral contract.