A specific type of agreement exists where one party makes a promise in exchange for the other party’s performance of a specific act. Acceptance occurs only through the completed performance of the requested action, and no obligation arises until that performance is rendered. For instance, offering a reward for finding a lost pet constitutes such an arrangement; the offeror promises payment upon the pet’s return, but no one is obligated to search. Only the act of finding and returning the pet creates a binding obligation to pay the reward.
This form of agreement offers clarity and efficiency in situations where a promise is contingent on a specific outcome. It allows offerors to control their obligations precisely, ensuring they are only bound if and when the desired performance occurs. Historically, these agreements have been used in various contexts, from simple reward offerings to more complex scenarios involving specific tasks or achievements. Their use highlights the importance of clear communication and understanding of terms to avoid potential disputes.
