MLchartDataset catalogue

Bilateral contract

Term · Law · MLC-T-LAW-000716

A type of contract where both parties exchange promises to perform an act in the future. Each party is both a promisor and a promisee, creating mutual obligations. For example, a contract for the sale of goods where the buyer promises to pay and the seller promises to deliver is bilateral.

Table 1. Record
IdentifierMLC-T-LAW-000716
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000716",
  "term": "Bilateral contract",
  "field": "Law",
  "definition": "A type of contract where both parties exchange promises to perform an act in the future. Each party is both a promisor and a promisee, creating mutual obligations. For example, a contract for the sale of goods where the buyer promises to pay and the seller promises to deliver is bilateral.",
  "url": "https://mlchart.com/terminology/law/bilateral-contract/"
}

Record 516 of 5,445 in Law terminology (MLC-0107). Request the full dataset.