bilateral contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bilateral contract … Law dictionary
bilateral contract — ➔ contract1 * * * bilateral contract noun [C] LAW ► a formal agreement between two people or groups that both promise to do something for each other → Compare UNILATERAL CONTRACT(Cf. ↑unilateral contract) … Financial and business terms
Bilateral Contract — A bilateral contract is a reciprocal arrangement between two parties where each promises to perform an act in exchange for the other party s act. Each party is an (a person who is bound to another) to its own promise, and an obligee (a person to… … Investment dictionary
bilateral contract — A contract that creates mutual obligations, i. e. both parties undertake to do, or refrain from doing, something in exchange for the other party s undertaking. The majority of contracts are bilateral in nature. Compare unilateral contract … Big dictionary of business and management
bilateral contract — /baylaetaral kontraekt/ A term, used originally in the civil law, but now generally adopted, denoting a contract in which both the contracting parties are bound to fulfill obligations reciprocally towards each other; as a contract of sale, where… … Black's law dictionary
bilateral contract — noun a contract involving mutual promises (each party is both promisor and promisee) • Hypernyms: ↑contract … Useful english dictionary
Bilateral Contract — A direct contract between the power producer and user or broker outside of a centralized power pool. *** A two party agreement for the purchase and the sale of energy products and services. California Energy Comission. Dictionary of… … Energy terms
bilateral contract — A contract under which each party promises or undertakes performance, the promise or the undertaking by the one furnishing the consideration for the promise or undertaking of the other, Christensen v Pugh, 84 Utah 440, 36 P2d 100, 95 ALR 608; a… … Ballentine's law dictionary
bilateral contract — agreement between two parties … English contemporary dictionary
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
