What does bilateral contract mean?
Definitions for bilateral contract
bi·lat·eral con·tract
This dictionary definitions page includes all the possible meanings, example usage and translations of the word bilateral contract.
Princeton's WordNet
bilateral contractnoun
a contract involving mutual promises (each party is both promisor and promisee)
ChatGPT
bilateral contract
A bilateral contract is a type of legal agreement where both parties involved make promises to carry out certain obligations or actions. Each party is both an obligor (a person who is bound to another) and an obligee (a person to whom another is obligated or bound). The agreement or contract becomes binding when both parties have accepted the terms. Examples of bilateral contracts include rental agreements, sales contracts, and employment contracts.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of bilateral contract in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of bilateral contract in Pythagorean Numerology is: 3
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"bilateral contract." Definitions.net. STANDS4 LLC, 2024. Web. 18 May 2024. <https://www.definitions.net/definition/bilateral+contract>.
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