What is an adhesion contract?
An adhesion contract is a contract where one side has all of the bargaining power and the other side has to agree to the terms or walk away from the transaction. Adhesion contracts are an extremely co...
Contract Types
What is a cost reimbursement contract?
What is a cost reimburesment contract?...
What is a unilateral contract?
A unilateral contract is a contract where only one person makes a promise. A unilateral contract is distinguished from a bilateral contract, where there is a mutual exchange of promises (each party to...
What is a fixed price contract?
A fixed price contract is a contract wherein a specified amount of money is promised in order to pay for the completion of a project or task. Fixed price contracts are commonly used in building/constr...
What is a bare contract?
A bare contract is a contract that is not legally enforceable because it is missing an essential legal requirement for contracts called consideration. A bare contract essentially refers to a promise t...
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