What is the correct term for a situation where one party to a contract has advantages over the other?

In the context of contracts, the term that accurately describes a situation where one party has advantages over the other is unilateral. A unilateral contract is characterized by a promise made by one party, often contingent upon the action or forbearance of another party. This type of situation often reflects an imbalance in the negotiation or agreement, where one party holds significantly more power or leverage than the other.

This concept can relate to various aspects of a contract, such as the obligations assumed, the information disclosed, or the benefits derived by each party. When one party possesses a greater benefit, right, or influence in the contract, it exemplifies how unilateral arrangements can lead to disparities in contractual relationships.

In contrast, bilateral contracts involve mutual agreements where both parties exchange promises and benefit equally. Multilateral contracts include three or more parties, while the term partial does not accurately reflect a specific contractual condition related to advantages. Understanding these distinctions is crucial for recognizing the dynamics in contractual agreements.