What type of contract is defined as being drafted by one party and offered on a "take-it-or-leave-it" basis?

A contract of adhesion is characterized by being drafted by one party who sets the terms and conditions, leaving the other party with little to no ability to negotiate. This type of contract is typically presented on a "take-it-or-leave-it" basis, meaning that the non-drafting party must accept the set terms in their entirety to enter into the agreement.

In many cases, contracts of adhesion are found in scenarios where there is a significant imbalance of power between the parties involved, such as in insurance agreements, leases, or consumer contracts. This feature of non-negotiability is crucial to understanding contracts of adhesion, as they are frequently utilized in situations where one party has a stronger bargaining position than the other.

In contrast, unilateral contracts involve one party making a promise in exchange for performance by another party, aleatory contracts are reliant on uncertain events impacting performance, and conditional contracts require certain conditions to be met before becoming enforceable. Therefore, the defining elements of a contract of adhesion specifically highlight its one-sided drafting and non-negotiable nature.