Which type of contract lacks mutual obligations?

A contract that lacks mutual obligations is referred to as a unilateral contract. In this type of agreement, only one party makes a promise or undertakes an obligation, while the other party does not have to fulfill any obligation in return. A common example of a unilateral contract is a reward offer, where one person promises to pay a reward for the return of lost property, and the only obligation is on the part of the person offering the reward. The person finding the property is not required to perform any action, thus illustrating the lack of mutual obligations.

In contrast, onerous contracts involve mutual obligations where both parties are bound to perform specific duties or exchange promises. Aleatory contracts involve elements of chance or uncertain events influencing obligations, which typically still have mutual commitments. Gratuitous contracts, while they may have a one-sided feel since one party benefits without giving anything in return, can still entail obligations; for example, a donor in a gratuitous contract may have the obligation to fulfill their promise once it is made. Thus, a unilateral contract distinctly stands out for its lack of mutual obligations, as only one party is bound to act.