Unilateral Contract - Law Dictionary Search Results
Home Dictionary Name: unilateral contractUnilateral contract
Unilateral contract. When the party to whom an engagement is made makes no express agreement on his part the contract is called unilateral, even in cases where the civil law attached certain obliga-tions to his acceptance. A loan of money and a loan for use were of this kind, Civ. Law.A promise without consideration is of this nature if by deed it is prima facie enforceable. See CONSIDERATION....
unilateral contract
unilateral contract see contract ...
contract
contract [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com- with, together + trahere to draw] 1 : an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other's duty or a remedy for the breach of the other's duty ;also : a document embodying such an agreement see also accept, bargain, breach, cause, consent, consideration, duty, meeting of the minds, obligation, offer, performance, promise, rescind, social contract, subcontract Uniform Commercial Code in the Important Laws section NOTE: Contracts must be made by parties with the necessary capacity (as age or mental soundness) and must have a lawful, not criminal, object. Except in Louisiana, a valid contract also requires consideration, mutuality of obligations, and a meeting of the minds. In Louisiana, a valid contract requires the consent of the parties and a cause for the contract in addition to c...
Offer
Offer is, in effect, a promise by the offeror to do or abstain from doing something, provided that the offeree will accept that offer and pay or promise to pay the 'price' of the offer. The price, of course, need be a monetary one. In fact, in bilateral contracts, the mere promise of payment of the price suffices to conclude the contract, while in a unilateral contract it is the actual payment of the price which is required, An Introduction to the Law of Contract. P.S. Atiyah, 44 (3rd Edn., 1981)....
offeree
offeree : one to whom an offer is made [a unilateral contract consists of a promise on the part of the offeror and performance of the requisite terms by the "Kloss v. Honeywell, Inc., 890 P.2d 480 (1995)"] ...
mistake
mistake 1 : an unintentional error esp. in legal procedure or form that does not indicate bad faith and that commonly warrants excuse or relief by the court [the court's power to revise a judgment because of fraud, , or irregularity] [a clerical ] 2 : an erroneous belief: as a : a state of mind that is not in accordance with the facts existing at the time a contract is made and that may be a ground for the rescission or reformation of the contract b : a misconception at the time of an offense alleged by a defendant mistake of fact 1 : a mistake regarding a fact or facts esp. that significantly affects the performance of a contract 2 : a criminal defense that attempts to eliminate culpability on the ground that the defendant operated from an unintentional misunderstanding of fact rather than from a criminal purpose mistake of law : a mistake involving the misunderstanding or incorrect application of law in regard to an act, contract, transaction, determination, or state of aff...
Rescission
Rescission, annulment or destruction. A general term for the repudiation and annulment of any contract or transaction: see (English) Sale of Goods Act, 1893. A contract for the sale of real estate very commonly contains a power for the vendor to rescind the contract if the purchaser makes or insists upon any objection or requisition which the vendor is unable or unwilling to comply with; but see ss. 42 and 45 of the Law of Property Act, 1925, precluding the vendor from rescinding in certain cases, and this facility will not assist the vendor in case of a serious defect in title or substantial mis-representation, see Re Hardick Co. v. Lipski, (1901) 2 Ch 666. Where a purchaser rescinds under a power in the contract he has a lien for his deposit, Whitbread & Co. v. Watt, (1902) 1 Ch 835, but before 1926 the purchaser in the absence of mis-representation was precluded from recovering his deposit if he chose to rescind upon an objection which he was precluded by statute from taking under a...
Adverse possession
Adverse possession is that form of possession or occupancy of land which is inconsistent with the title of any person to whom the land rightfully belongs and tends to extinguish that person's title, see (English) Real Property Limitation Act, 1874 (37 & 38 Vict. c. 57), which provides that no person shall make an entry or distress, or bring an action to recover any land or rent, but within twelve years next after the time when the right first accrued, and does away with the doctrine of adverse possession, except in the cases provided for by s. 15. See Nepean v. Doe, (1837) 2 M. & W. 910.Possession is not held to be adverse if it can be referred to a lawful title, Doe v. Bightwen, 10 East 583; Wall v. Stanwick, 34 Ch D 763. Non-adverse possession is of two kinds. The title of the dispossessed may not be paramount, as in the case of a leasehold term when dispossession of the lessee is not necessarily inconsistent with the reversioner's rights, and secondly, the person setting up disposse...
Assignment and relinquishment
Assignment and relinquishment, in the case of an assignment, the assignor continues to be liable to the landlord for the performance of his obligation under the tenancy and this liability is contractual while the assignee becomes liable by reason of privity of estate. The consent of the landlord to an assignment is not necessary, in the absence of a contract or local usage to the contrary. But in the case of relinquishment, it cannot be a unilateral transaction; it can only be in favour of the lessor by mutual agreement between them. The relinquish-ment of possession must be to the lessor or one who holds his interest, W.H. King v. Republic of India, AIR 1952 SC 156 (158): 1952 SCR 418. [Transfer of Property Act, 1882, s. 108(j)]...
Relinquishment and assignment of tenancy
Relinquishment and assignment of tenancy, the distinction between an assignment on the one hand and relinquishment or surrender on the other is too plain to be ignored. In the case of an assignment, the assignor continues to be liable to be landlord for the performance of his obligation under the tenancy and this liability is contractual while the assignee becomes liable by reason of privity of estate. The consent of the landlord to an assign-ment is not necessary, in the absence of a contract or local usage to the contrary. But in the case of relinquishment, it cannot be a unilateral transac-tion; it can only be in favour of the lessor by mutual agreement between them. The relinquishment of possession must be to the lessor or one who holds his interest. In fact, a surrender or relinquishment terminates the lessee's rights and lets in the lessor, W. H. King v. Republic of India, AIR 1952 SC 156 (158): 1952 SCR 418. [Transfer of Property Act, 1882, s. 108(j)]...
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