bilateral contract
Definition
Reciprocal arrangement between two parties under which both parties promise to perform an act in exchange for the other party's act. Each is an obligor on its own promise, and an obligee on the other party's promise.
bilateral contract is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
bilateral contract appears in the definitions of the following terms: bilateral and bilateral rights
This content can be found on the following page:
http://www.businessdictionary.com/definition/bilateral-contract.html
email to a friend
print this definition
cite this definition
link to this page







