bilateral contract

(redirected from Bilateral Agreements)
Also found in: Dictionary, Thesaurus, Legal.
Related to Bilateral Agreements: Bilateral Contracts, Bilateral Trade Agreements

Bilateral Contract

A contract in which each party has obligations to the other. For example, in a contract of sale, one party provides a good or service and the other party provides remuneration in the form of payment. Bilateral contracts are extremely common. See also: Unilateral contract.

bilateral contract

A contract in which each party promises to do something in return for the other's promise. If either party breaks its promise, the other may sue.This is the most common type of contract. A real estate purchase contract is a bilateral contract—the seller promises to sell, and the buyer promises to buy. Contrast with a unilateral contract, in which one party has an obligation but the other does not. Option contracts are unilateral contracts—the seller is obligated to sell if the buyer decides to buy, but the buyer is not obligated to buy at all.

References in periodicals archive ?
BAGHDAD, Iraq -- The Government of Iraq today announced that it has signed a bilateral agreement with Australia canceling the equivalent of U.
WASHINGTON, Sept 14 (KUNA) -- The United States and the United Kingdom announced a bilateral agreement Friday to combat off-shore tax evasion.
The bilateral agreements were signed after talks at the Presidential Palace between President Demetris Christofias and Qatari Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabr al Thani and delegations from the two countries.
BAGHDAD, Iraq, May 15 /PRNewswire/ -- The Government of Iraq announced that it has reached a bilateral agreement with the Czech Republic canceling approximately U.
The executive campaign for the upcoming elections involving the Bilateral Agreements between Switzerland and the EU has begun.
MANILA, June 14 Kyodo A Philippine maritime mission is now in Europe to negotiate better job security and benefits for Filipino seafarers as well as push labor-friendly bilateral agreements with countries hosting Filipino workers, a presidential palace said Monday.
TEI agrees that bilateral agreements are necessary to eliminate double taxation of the same income.
The liberalisation policies pursued by the governments or pushed through bilateral agreements with the US or the EU are key to the region's future potential.
For his part, Al-Bader, in a statement to KUNA, stressed the importance of activating bilateral agreements signed between the two sides to contribute in strengthening the presence of investors, noting the role of bilateral agreements in attracting and stimulating investment and promoting trade exchange between the two countries.
Summary: BEIRUT: Head of the Lebanese Democratic Party MP Talal Arslan urged the Lebanese government to enhance bilateral agreements inked between Lebanon and Iran Monday.
President of the Russian Federation Dmitry Medvedev arrives tonight in Cyprus for a state visit, during which Nicosia and Moscow will sign a series of bilateral agreements to further develop their relations.
During the meeting, Sohrabi referred to the growth of hygiene and treatment services and the resulted progress in sanitary fields in Iran, and announced Tehran's readiness to implement bilateral agreements with Qatar in medical, sanitary and treatment fields and consolidate the ties and cooperation between the two countries' related ministries.
Full browser ?