Definition of Bilateral contract
1. Noun. A contract involving mutual promises (each party is both promisor and promisee).
Bilateral Contract Pictures
Click the following link to bring up a new window with an automated collection of images related to the term: Bilateral Contract Images
Lexicographical Neighbors of Bilateral Contract
Literary usage of Bilateral contract
Below you will find example usage of this term as found in modern and/or classical literature:
1. The Foundations of Legal Liability: A Presentation of the Theory and by Thomas Atkins Street (1906)
"THE point has now been reached in the prosecution of these studies where it becomes necessary for us again to take up the subject of the bilateral contract. ..."
2. The Law of Contracts by Samuel Williston, Clarence Martin Lewis (1920)
"A bilateral contract to form a future contract or sale. A bilateral contract may bind the parties thereto to enter into another contract in the future. ..."
3. The Law of Contracts by Samuel Williston, Clarence Martin Lewis (1920)
"In a particular case when a party to a bilateral contract purports to assign it, does he mean to disclaim further liability and in effect to propose a ..."
4. The Law of Contracts by Samuel Williston, Clarence Martin Lewis (1920)
"Where, however, a bilateral contract is wholly or partly unperformed by the plaintiff, a distinction must be taken between the usual case of a bilateral ..."
5. Principles of the Law of Contracts by Hugh Evander Willis (1914)
"an express condition in a covenant, it must be a term in a bilateral contract. A condition subsequent is an uncertain event, generally impossibility of ..."