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Legal Terms - Bilateral Contract
A bilateral contract, also known as a synallagmatic contract, is an agreement in which both parties have mutual duties. This means that both parties commit to either doing or abstaining from certain actions in exchange for the other party's commitment. Most contracts are bilateral.
A bilateral contract, also known as a synallagmatic contract, is an agreement in which both parties have mutual duties. This means that both parties commit to either doing or abstaining from certain actions in exchange for the other party's commitment. Most contracts are bilateral.
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