Unilateral Contract

Pension Benefit Guaranty Corporation (PBGC)

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.

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