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Unilateral Contract
A contract in which only one party makes a promise or undertakes a performance, while the other party must act to trigger the obligation.
Legally Sufficient Consideration
Value that the law recognizes as adequate to support a contract, ensuring that each party agrees to give or do something of value.
Economic Duress
A condition in which one is forced to engage in a financial transaction due to threats or pressures, rendering the agreement involuntary.
Irrevocable Offer
An offer that cannot be withdrawn or canceled by the offeror for a specified period, assuming the offeree has given some consideration in exchange for the offer's irrevocability.
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