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Unilateral Contract

(n) A unilateral contract is an offer or promise by the person giving the offer or promise without a second party accepting it. The offeror is bound to abide by the promise even though there is no reciprocal acceptance. So in this contract only one person is responsible to full fill the conditions set in that contract. Unilateral contacts are made when there is no defined second party or it is offered to many at a time. For example offer to pay to the founder of goods.

 
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