unilateral contract


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Related to unilateral contract: conditional contract, aleatory contract, Express contract

unilateral contract

A contract that is binding on one party but only if the other party chooses to take advantage of it.An option contract is the classic unilateral contract.A property owner (optionor) will give another party (optionee) the right to purchase property,but the optionee is not obligated to purchase if it chooses not to.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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rewards as a unilateral contract formed at checkout, which conferred instant liability on the supermarket chain to its customers for the rewards they accrued.
Animating my proposal is a more nuanced understanding of the Contracts Clause that allows a municipality to explore unilateral contract modification of key obligations in an effort to facilitate consensual agreements with creditor constituencies.
The First Circuit determined that there was a sufficient nexus between UPGO's acts and the United States because the offer for the unilateral contract took place in the United States and it was through the offer that UPGO engaged in commerce in the U.S.
Instead, OCLC has merely agreed to delay contract implementation until later this year, most likely in an attempt to let the furor die down and quietly implement the unilateral contract change in the fall.
a) in a unilateral contract, when the performance or intended restraint from acting is complete
1998) (characterizing an employee handbook as "a unilateral contract ...
Thus, the court found that the customer had entered into a unilateral contract with Giant Eagle, and the liability attached upon the customer's performance (i.e., paying for the requisite amount of purchases at checkout).
asking for a unilateral contract. The guarantor is just saying, I make no promises, but if you lend money to this person that I'm guaranteeing and that person defaults, I'll make good.

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