Can Unilateral Contracts Be Revoked

Unilateral contracts are unique agreements in which only one party makes a promise to perform a certain act. The promise is usually conditional and is made with the expectation of receiving some form of compensation. However, in some cases, the party making the promise may wish to revoke it for reasons such as a change of mind or an unforeseen circumstance. The question is, can unilateral contracts be revoked? In this article, we will discuss the answer to this question and some important things to consider when dealing with unilateral contracts.

First, it is important to understand that a unilateral contract becomes binding once the promise is made, and the condition is met. Once the other party has acted on the promise, the party making the promise cannot revoke it unless there is a valid reason such as fraud, duress or mistake. The reason for this is that the other party has already performed their part of the agreement, and it would be unfair to revoke the promise.

However, if the condition has not been met, the party making the promise may revoke it without any legal consequences. For example, if a person offers a reward for information about a lost pet, but the pet is found before anyone provides information, the offer can be revoked without any legal obligation.

Another important consideration when dealing with unilateral contracts is the concept of promissory estoppel. This means that if the other party relies on the promise and suffers a detriment as a result, the party making the promise may be prohibited from revoking it. For example, if a company promises an employee a bonus at the end of the year for meeting certain goals, but then decides to revoke the promise, the employee may be able to sue the company for promissory estoppel.

In conclusion, unilateral contracts can be revoked in certain circumstances, such as if the condition has not been met. However, if the other party has already performed their part of the agreement, the party making the promise cannot revoke it without a valid reason. Additionally, promissory estoppel may prevent the party making the promise from revoking it if the other party has relied on the promise and suffered a detriment as a result. As always, it is important to consult with a legal professional for specific advice on your situation.