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of <h1>Understanding Bilateral Contracts: Mutual Obligations in Legal Agreements, Illustrated by Sales Agreements Example.</h1> A bilateral contract is a legal agreement where both parties are obligated to fulfill reciprocal duties towards each other. Originating from civil law, this concept is widely recognized and applied in various legal systems, including Indian law. An example of a bilateral contract is a sales agreement, where one party commits to delivering the sold item, and the other party agrees to pay the specified price.
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