Unilateral offer is a term used in contract law which refers to an offer made by one party when this party does not require any type of reciprocity or response. It is essentially a one-way street where the offeree can accept or reject the offer, but not counteroffer in any way. In simpler terms, it is an offer that requires only a single action on the part of the offeree such as simply accepting the offer or paying money. This type of offer is sometimes referred to as a “take it or leave it” offer, since the offeree cannot modify it in any way and must decide whether to accept or decline the offer as it stands.