What is a unilateral contract?

A unilateral contract is a type of binding agreement between two or more parties that captures the promises and obligations of each party. In a unilateral contract, only one party is offering to do something for the benefit of the other. In Washington, a unilateral contract is generally considered valid if it meets certain criteria. For instance, the party offering the promise must have the legal capacity to enter into a contract and the other party must be able to provide an adequate consideration in return for the promise. Additionally, the offer must be expressed in a clear and unambiguous manner and must be communicated to the other party. In addition to these general criteria, a unilateral contract in Washington must be written to be legally binding. A unilateral contract must clearly spell out the duties of each party, as well as a timeline for the execution of all duties. The parties must also sign the contract to make it a binding agreement. Finally, Washington state law requires that all unilateral contracts must come with a statement of consideration, which is a section that outlines the agreed-upon payment between the parties. This statement must be included in the contract, even if no money is exchanged between the parties. In general, a unilateral contract is a binding agreement between two parties in which one party is providing a promise for the benefit of the other. Its validity is determined by the criteria that Washington state law requires for such agreements.

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