Unilateral Covenant

A unilateral covenant is a promise made by one party that is legally binding and benefits another party, but it only requires the promisor to fulfill the promise if specific conditions are met by the other party. Once the conditions are satisfied, the promisor’s obligation is triggered, and they must perform their part. An example is an offer of a reward: if someone completes the required act, the promisor is obligated to fulfill their promise. Essentially, it’s a one-sided commitment where the obligation arises only upon the occurrence of certain events.