Contracts are important to any type of business, whether they concern supplies and services or the lease or purchase of real estate. Most business contracts are bilateral contracts. This means the contract is an agreement between two or more people or groups. For example, when you agree to buy a piece of furniture from a store or supplies from a vendor, you are agreeing to pay for the items, and the store or vendor is agreeing to provide you with the requested items. Likewise, if a cleaning company agrees to clean your office on a daily basis, then you agree to pay the company for their services.
On the other hand, a unilateral contract involves an offer to do something that is open only to one individual or group. The individual isn’t promising to take the requested action, but if he or she chooses to do so, then he or she will have entered into a unilateral contract. The most common example of a unilateral contract is an advertisement for a reward. Suppose that you lose your dog, and you post an advertisement for a reward for anyone who finds your dog. Nobody is promising to look for your dog, but anyone who successfully does so will receive the reward.
Nonetheless, unilateral and bilateral contracts are alike in some ways. A party to either type of contract can breach or violate the terms of that contract. For instance, if a supplier fails to deliver ordered supplies to a business as promised within a certain timeframe, then the supplier most likely breached the terms of the bilateral contract. In this case, if the parties are unable to informally work out a solution, the business will have the right to file a lawsuit against the supplier for failing to satisfy the contract as agreed. If the business proves its case, then it may be entitled to damages from the supplier as a result of the contract breach.
We are the California business law attorneys to whom you can turn if you are entering into a contract or engaging in any other type of legal matter. No matter how complicated your situation may be, you can count on the Heit Law Group, P.C., to have the legal skills that are required to successfully handle your case.