Bilateral Contract

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A Bilateral Contract is a legally binding agreement between two or more contract parties in which each party makes reciprocal promises to the other.



References

2024a

  • (Accountend, 2024) ⇒ "Understanding Bilateral Contracts: Definition, Examples, and Applications". In: Accountend. Retrieved: 2024-10-16.
    • QUOTE: A Bilateral Contract is a legally binding agreement between two parties where each party makes a promise to the other. Unlike unilateral contracts, which involve a promise for an act, bilateral contracts entail reciprocal promises, where both parties are obligated to perform or refrain from certain actions.

2024b

2024c

2020