Contract Glossary
Unilateral Contract
Definition
A unilateral contract is a one-sided promise where only one party makes a commitment, and the other party accepts by performing a specific act, not by making a promise in return.
In Practice
A company posts a bug bounty program: 'Report a critical security vulnerability and we'll pay $10,000.' No one is obligated to look for bugs. But if a researcher finds and reports a qualifying vulnerability, the company is legally bound to pay. Insurance policies are another common example.
Common in these contract types
Related contract clauses
Frequently asked questions
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