Final answer:
A unilateral contract is where one party pledges to perform without a reciprocal promise from the other, as seen in reward offers.
Step-by-step explanation:
An agreement in which only one party promises to perform without receiving a reciprocal promise to perform from the other party is called a unilateral contract.
In a unilateral contract, one party, known as the offeror, makes a promise in exchange for the act or performance by the other party, who is the offeree.
This type of contract is distinguished from a bilateral contract, where both parties make promises to each other. An example of a unilateral contract is a reward offer, where someone promises to pay a reward to another party in return for performing a specific act, like returning a lost dog.