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unilateral contract definition

an agreement to pay in exchange for performance, if the potential performer chooses to act. A "unilateral" contract is distinguished from a "bilateral" contract, which is an exchange of one promise for another. Example of a unilateral contract "I will pay you $1,000 if you bring my car from Cleveland to San Francisco. " Bringing the car is acceptance. The difference is normally only of academic interest.

See also bilateral contract consideration contract performance

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