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LSDefine

Simple English definitions for legal terms

reciprocal contract

Read a random definition: FTCA

A quick definition of reciprocal contract:

A reciprocal contract is an agreement between two or more parties where each party agrees to do something in exchange for the other party's agreement to do something else. It is also known as a bilateral contract. The agreement creates obligations that can be enforced by law. A contract can be a written document, but it is the agreement between the parties that is legally binding, not the document itself.

A more thorough explanation:

A reciprocal contract is a type of bilateral contract where two parties agree to perform certain actions or provide something of value to each other. This type of contract creates mutual obligations that are enforceable by law.

For example, if John agrees to sell his car to Jane for $10,000, and Jane agrees to pay John $10,000 for the car, this is a reciprocal contract. Both parties have agreed to perform certain actions (John to sell the car, Jane to pay for it) and both parties have obligations that are enforceable by law.

Another example of a reciprocal contract is a lease agreement. The landlord agrees to provide a place to live for the tenant, and the tenant agrees to pay rent for the use of the property. Both parties have obligations that are enforceable by law.

Reciprocal contracts are important because they create a sense of trust and fairness between the parties involved. Each party knows what they are expected to do, and they can rely on the other party to fulfill their obligations. If one party fails to fulfill their obligations, the other party can take legal action to enforce the contract.

reciprocal | reciprocal dealing

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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