Bilateral Contract

  A direct contract between the power producer and user or broker outside of a centralized power pool.
  A two-party agreement for the purchase and the sale of energy products and services.
  California Energy Comission. Dictionary of Energy Terms

Energy terms . 2014.

Look at other dictionaries:

  • bilateral contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bilateral contract …   Law dictionary

  • bilateral contract — ➔ contract1 * * * bilateral contract noun [C] LAW ► a formal agreement between two people or groups that both promise to do something for each other → Compare UNILATERAL CONTRACT(Cf. ↑unilateral contract) …   Financial and business terms

  • Bilateral Contract — A bilateral contract is a reciprocal arrangement between two parties where each promises to perform an act in exchange for the other party s act. Each party is an (a person who is bound to another) to its own promise, and an obligee (a person to… …   Investment dictionary

  • bilateral contract — A contract that creates mutual obligations, i. e. both parties undertake to do, or refrain from doing, something in exchange for the other party s undertaking. The majority of contracts are bilateral in nature. Compare unilateral contract …   Big dictionary of business and management

  • bilateral contract — /baylaetaral kontraekt/ A term, used originally in the civil law, but now generally adopted, denoting a contract in which both the contracting parties are bound to fulfill obligations reciprocally towards each other; as a contract of sale, where… …   Black's law dictionary

  • bilateral contract — noun a contract involving mutual promises (each party is both promisor and promisee) • Hypernyms: ↑contract …   Useful english dictionary

  • bilateral contract — A contract under which each party promises or undertakes performance, the promise or the undertaking by the one furnishing the consideration for the promise or undertaking of the other, Christensen v Pugh, 84 Utah 440, 36 P2d 100, 95 ALR 608; a… …   Ballentine's law dictionary

  • bilateral contract — agreement between two parties …   English contemporary dictionary

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • bilateral — bi·lat·er·al /ˌbī la tə rəl/ adj: affecting, obligating, or shared by both parties a bilateral agreement bi·lat·er·al·ly / rə lē/ adv Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.