- contract, bilateral
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n.A contract between two parties in which each one promises something to the other.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
contract, bilateral
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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
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 — bi·lat·er·al /ˌbī la tə rəl/ adj: affecting, obligating, or shared by both parties a bilateral agreement bi·lat·er·al·ly / rə lē/ adv Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… … Black's law dictionary
contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… … Black's law dictionary
Contract management — or contract administration is the management of contracts made with customers, vendors, partners, or employees. Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions,… … Wikipedia
CONTRACT — (Heb. חוֹזֶה, ḥozeh), in general law theory a legally binding agreement between two or more parties, in terms of which one party undertakes for the benefit of the other to perform or refrain from a certain act. As such, contract is the main… … Encyclopedia of Judaism
contract — CONTRÁCT, contracte, s.n. Acord încheiat, ca urmare a înţelegerii intervenite între două sau mai multe persoane (fizice sau juridice), pentru crearea, modificarea sau stingerea (stinge) unor drepturi şi obligaţii în relaţiile dintre ele; act,… … Dicționar Român
Bilateral Netting — is a legally enforceable arrangement between a bank and a counterparty that creates a single legal obligation covering all included individual contracts. This means that a bank’s obligation, in the event of the default or insolvency of one of the … Wikipedia
