Examlex
Differentiate between formal and informal groups.
Unilateral Contract
A contract agreement in which one party makes a promise in exchange for an act by another party, binding only after the act is completed.
Revocation
The official cancellation or withdrawal of an offer, license, or agreement.
Bilateral Contract
A type of agreement where both parties involved promise to perform certain actions or obligations, often creating mutual legal obligations.
Unilateral Contract
A contract in which one party makes a promise in exchange for an act (not a promise) by the other party.
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