A bilateral contract is a contract between two parties in which both the parties are trying to fulfill their side to bargain. At a multinational level, it is called a contact of a side deal. Both parties need to see a separate contract. Both parties are involved in the negotiations. It is also called a binding agreement. Any of the sales agreement is the example of the bilateral contract.
For example, a person buying a car by exchange money and a seller give the car in exchange for money but if one party does not fill criteria then a breach of contract occurs.
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