bilateral contract

1. 1.

   a contract involving mutual promises (each party is both promisor and promisee)

   Broadercontract

Questions about bilateral contract

What does bilateral contract mean?

bilateral contract means "a contract involving mutual promises (each party is both promisor and promisee)".

Is bilateral contract a common word?

bilateral contract is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.