There are various types of contract, one such type are contacts based on their performance. The basis for this type is whether the contract is performed or still to be performed. ingly, the two types are known as executed contracts and executory contracts.
Acceptance by performance typically occurs in unilateral contracts, where one party promises something in exchange for an action from the other party.
Acceptance by performance It usually applies to contracts in which the offeror stipulates that the performance of a specific action or task can serve as evidence of acceptance. Once the offeree performs the required action, it counts as acceptance, and the parties form a legally binding agreement.
Different types of acceptance Absolute acceptance - the offer/agreement is accepted in full, as written. Conditional acceptance - paying under the condition that the product/service is delivered/performed. If not, the buyer is entitled to restitution. General acceptance - when acceptance is given without qualification.
Performance agreements define executive accountability for specific organizational goals, help executives align daily operations, and clarify how work unit activities contribute to the agency's goals and objectives.