What is a unilateral contract?

A unilateral contract is a type of contract under Delaware contract law. It is a one-sided agreement in which only one party makes a promise in exchange for something else. The other party does not need to make a promise in return. The most common example of a unilateral contract is a reward offered in exchange for someone finding a lost item. In this type of agreement, the offeror makes a promise to reward whoever finds the lost item, but the finder does not need to make a promise to reward the offeror in return. Unilateral contracts are often used in employment contracts as well, where the employer makes a promise to hire the employee but the employee does not need to make a promise back. Unilateral contracts are legally binding, meaning that both parties must fulfill their obligations in order for the contract to be successful.

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What is a unilateral contract?

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