Definitions
There is 1 meaning of the phrase
Bilateral Contract.
Bilateral Contract - as a noun
A contract involving mutual promises (each party is both promisor and promisee)
Example Sentences
"A bilateral contract is a mutual agreement between two parties to perform certain actions."
"In a bilateral contract, both parties have specific obligations that they must fulfill."
"John and Mary signed a bilateral contract to exchange their respective artworks."
"The bilateral contract states that either party can terminate the agreement with a written notice."
"A breach of a bilateral contract can result in legal consequences for the party at fault."
