MISCLASSIFYING THE INSURANCE POLICY: THE UNFORCED ERRORS OF UNILATERAL CONTRACT CHARACTERIZATION.

The article discusses the history, doctrine and theory of unilateral contracts in the U.S. It states that the degree in which the insurance policy is mainly uncommon even within the zoology of traditional contract characterization. It suggests that the common law should qualify insurance policies as bilateral agreements and assess their terms and conditions. Moreover, it notes that could should reject the presumption that insurance contracts are unilateral, rather should persist being faithful to contract law's preferences.