What are bilateral and unilateral contracts?
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- Опубликовано: 7 фев 2025
- What are bilateral and unilateral contracts? This video discusses agreements where parties make promises to each other and agreements where there is only one express promise. This video was originally on another online educational platform.
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I've never seen someone so happy after forming a contract.
This really helped me!!! My textbook and the explanation in class kept going over my head, but this actually made sense to me! Thank you!
Thanks KM. You might want to visit the uslawessentials website, too. uslawessentials.com Please let me know if other topics interest you.
“Performance is the acceptance of the contract” couldn’t explained it any better!!
Thank you. My lecture was making it unnecessarily complicated for some reason. He would combine his definition sometimes with case laws instead of separating the two parts of case law and definition. So you end up trying to understand both areas of the topic simultaneously. I think it's better to know the definition first and then apply to how it's recognised in case studies.
Awesome. Simple and straight to the point!
Beautiful explanation. This is the right way to differentiate between both. The classic reward example doesn't clarify unilateral contract like this one
Thanks very much! uslawessentials.com
VERY VERY useful. Even for UK law this is applicable
haha the Animation is great in this video
thank you!!!!!! this helped me so much for my exam :)
Sure BB, you can see more info on the uslawessentials website: uslawessentials.com Go rock that exam.
loving the anime chibis teaching me contract law
Thanks for this video
THANK YOU ! THIS VIDEO WAS SO HELPFUL!!!!!!!!!!!!
You're welcome, Esther.
You might find additional helpful content on my blog uslawessentials.com/blog.
excellent , just what i needed
Thanks ❤
very helpful videos! thanksssssss
great sample!!!
Thanks, JML. Let me know if other topics interest you. uslawessentials.com
Thank you be blessed in the Name of Jesus Christ, Amen!
Hi! Your videos are very useful...could you also do videos on Defective Agreements and Mistakes that invalidate or does not invalidate Contracts???
Thanks for commenting, yes, will do. There is more info on my website uslawessentials.com
So, that means in bilateral contract you can pay before the action is done. Because the other party promised to do. But in unilateral contract you will get paid only after the job is done?
That is the right idea but in a bilateral contract you can also promise to pay after the work is done. Almost every contract is bilateral. You exchange promises and form an agreement. Maybe you promise to pay before or after the other side does what it is supposed to do under the contract. Unilateral contracts are unusual. Typically rewards and contests - things like that.
@@USLawEssentials like what kind of example of unilateral contracts can be between the countries? If you don't import cotton to my country I will pay you or will not do something? That's confuse me a bit, but nevertheless thank you for your answer!
very helpful, thank you!
You're welcome, Penny. Thanks for stopping by.
Make sales a bike on gumtree, which stated’ Bike for sale for 800, if you have an Australian Red Ensign Flag, I will knocked 8% off the price. Is this a unilateral offer?
It looks like you are asking this w/r/t case law from Australia/UK so I'm not sure how your instructor wants you to approach this question. How did you reason through this?
What if the girl said that since you didnt accepted my offer and remained silent so its not a binding contract and i wont pay you now.
ZN, can you explain your question more?
He may not have accepted verbally but he accepted in action! Implied contract? If it walks like a duck...That's my thought.
A unilateral contract is simply a donation. And you need a witness to enforce it in court
Almost! Not quite though. It's actually not a donation. And the witness requirement isn’t accurate. Under US law it is a type of contract where the offer is accepted by performance, not a promise.
@@USLawEssentials very interesting 🤔. Do the main elements of a contract matter in unilateral contracts? Such as
1.) A wet ink signature from both parties.
2.) Full disclosure
3.) Start and end date
4.) Is the performance or promise even possible to achieve.
@@USLawEssentials I'm not a legal expert by any means that's why I'm wondering
You might be over complicating this. Have you ever won a game prize (even a small one)? You formed a unilateral contract. Pick the right numbers and win money. Sink a basket and win a teddy bear. Find a dog and collect a reward. All of those are unilateral contracts. You did the thing and got the promised reward. You didn’t promise to do anything, you just performed so now the other side had to keep the promise.
Why is there not CC text? This is a serious accessibility issue for educators.
I had no idea. Should be working now.