Bilateral Contract
Sections 51–57 of the Indian Contract Act, 1872 covers bilateral agreements in detail. Bilateral contracts are agreements between two or more parties that obligate each party to perform certain actions or provide something of value to the other. They are often used in business transactions where both parties have equal bargaining power, such as the sale of goods or services or the purchase of land.
Examples of Bilateral Contract: any sales agreement, lease, or employment contract.
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