Investment Term For The Day - Unilateral Contract
May 20, 2022 ·
1m 22s
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Description
A unilateral contract is a contract agreement in which an offeror promises to pay after the occurrence of a specified act. In general, unilateral contracts are most often used when...
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A unilateral contract is a contract agreement in which an offeror promises to pay after the occurrence of a specified act. In general, unilateral contracts are most often used when an offeror has an open request in which they are willing to pay for a specified act.
An example of a unilateral contract is an insurance policy contract, which is usually partially unilateral. In a unilateral contract, the offeror is the only party with a contractual obligation.
In a unilateral contract, the offeror promises to pay for specified acts that can be open requests, random, or optional for other parties involved.
Unilateral contracts are considered enforceable by contract law. However, legal issues typically do not arise until the offeree claims to be eligible for remuneration tied to acts or occurrences.
show less
An example of a unilateral contract is an insurance policy contract, which is usually partially unilateral. In a unilateral contract, the offeror is the only party with a contractual obligation.
In a unilateral contract, the offeror promises to pay for specified acts that can be open requests, random, or optional for other parties involved.
Unilateral contracts are considered enforceable by contract law. However, legal issues typically do not arise until the offeree claims to be eligible for remuneration tied to acts or occurrences.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
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