Treaties can be bilateral or unilateral. A bilateral treaty is an agreement by which each of the parties makes a promise or a series of promises. For example, in a contract for the sale of a home, the buyer promises to pay the seller US$200,000 in exchange for the seller`s promise to deliver ownership of the property. These common contracts take place in the daily flow of commercial transactions and, in cases where demanding or costly precedent requirements are requirements that must be fulfilled in order for the treaty to be respected. A codicil to Will or Codicil is a written document that modifies, modifies, declares, revokes or supplements an earlier document. An exception arises when advertising makes a unilateral promise, such as the offer of a reward, as in the famous case of Carlill v Carbolic Smoke Ball Co, decided in nineteenth-century England. Read more The point where two parties agree can be a bit unclear. For example, many companies submit a standard contract template to an independent contractor and expect it to be signed without discussion. At this stage – and the law is clear – there is only a good quality contract if one party makes an offer and the other accepts all the conditions of that offer. In this example, the contractor is therefore always free to refute each of the points of the contract and to present a counter-offer until an agreement is reached. . .