Bilateral contract
This is an old revision of this page, as edited by Aschlafly (talk | contribs) at 17:10, September 28, 2007. It may differ significantly from current revision.
A bilateral contract is an agreement consisting of mutual promises by both sides of the agreement. A classic example of a bilateral contract is a promise by the owner of a house to pay $1000 to a painter, who promises to paint the house for that amount.