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What is a Unilateral Contract? A unilateral contract, also known as a one-sided contract or a take-it-or-leave-it offer, is an agreement where only one party (the offeror) makes a promise and the other party (the offeree) is not obligated to accept it. The offeree’s acceptance occurs when they complete a
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What is a Habendum Clause? A habendum clause, often referred to as a ‘to have and to hold’ clause, is an essential component of property-related contracts that determines ownership rights, interests, and conditions. Most commonly associated with real estate transfers and oil & gas leases, this legal provision can significantly
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