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.

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bilateral contract

References in periodicals archive ?

rewards as a unilateral contract formed at checkout, which conferred instant liability on the supermarket chain to its customers for the rewards they accrued.

Giant Eagle and economic performance under sec. 461(h)

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.

A new fulcrum point for city survival

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.

Plaintiff's financial loss considered sufficient nexus for commercial activity exception of the Foreign Sovereign Immunities Act

a) in a unilateral contract, when the performance or intended restraint from acting is complete

Chapter 24: Business law

1998) (characterizing an employee handbook as "a unilateral contract ...

How reasonable is "reasonable"? The search for a satisfactory approach to employment handbooks

Attempted Reform Through Unilateral Contract Modifications

The unfulfilled promise of an end to timber dominance on the Tongass: forest service implementation of the Tongass Timber Reform Act

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).

Potential expiration is not an event

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.

U.S. Supreme Court's split decision on enforceability of spousal guarantee limits