What type of contract allows one party to either accept or reject the terms laid out by another party?

A contract of adhesion is characterized by a significant imbalance in the bargaining power of the parties involved. In such contracts, one party provides the terms and the other party has little to no ability to negotiate the terms. This situation often arises in standard form contracts, where one party, usually the provider, offers a set of pre-determined terms that the other party can only accept or refuse as is, without room for negotiation.

This type of contract allows the second party to either agree to the terms laid out or reject them outright, which aligns with the description given in the question. The defining feature is the “take-it-or-leave-it” nature of the agreement, which distinguishes it from other types of contracts where negotiation and mutual agreement are more common.

In contrast, a mutual agreement contract suggests a more collaborative process where both parties come to a consensus. A bilateral contract involves obligations on both sides, implying a mutual exchange rather than a single acceptance. Conditional contracts depend on the fulfillment of certain conditions before they become enforceable, which doesn’t relate to the acceptance or rejection of terms directly. Therefore, the nature of the contract of adhesion closely fits the criteria outlined in the question.