BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A bilateral contract is a binding agreement between two parties where both exchange promises to perform and fulfill one side of a bargain.

Detailed explanation-2: -A bilateral contract is an agreement that binds two or more parties legally on pre-decided terms and conditions. The contract is typically in writing and requires both parties to perform the said actions. It is the most basic type of contract in the business industry.

Detailed explanation-3: -Contracts can be unilateral or bilateral. In a unilateral contract, only the offeror has an obligation. The offeree is not required to complete the task or action. In a bilateral contract, both parties agree to an obligation and involve equal obligation from the offeror and the offeree.

Detailed explanation-4: -A bilateral agreement (or what is sometimes refered to as a “side deal") is a broad term used simply to cover agreements between two parties. For international treaties, they can range from legal obligations to non-binding agreements of principle (often used as a precursor to the former).