What type of promise is defined as a promise for performance?

A promise for performance is specifically characterized as a unilateral promise. In a unilateral contract, one party makes a promise to perform a certain action, which is contingent upon the other party fulfilling a specific act, such as completing a task or paying a fee. The defining feature here is that only one party is obligated to perform, while the other party’s obligation comes into existence only upon the completion of that act.

For instance, consider a scenario where someone offers a reward for finding a lost pet. The person offering the reward (the promisor) is the only one who is making a promise, while the person who finds the pet (the promisee) is not obligated to act but will receive the reward only if they complete the task. This structure supports the concept of performance-based promises, wherein the fulfillment of the promise happens only if the specified action occurs.

In contrast, in a bilateral contract, there are mutual promises made by both parties, which create obligations for each. Accessory contracts and suretyship involve additional complexities related to ancillary agreements or guaranteeing performance but do not fit the definition of a promise for performance as clearly as a unilateral promise does.