Difference between revisions of "Unilateral contract"
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(New page: A unilateral contract is an agreement by which one undertakes an express performance without receiving any express promise of performance from the other. category:legal terms) |
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| − | A unilateral contract is an agreement by which one undertakes an express performance without receiving any express promise of performance from the other. [[category:legal terms]] | + | A unilateral contract is an agreement by which one undertakes an express performance without receiving any express promise of performance from the other. |
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| + | 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. [[category:legal terms]] | ||
Revision as of 17:15, September 28, 2007
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.