synallagmatic contract


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synallagmatic contract

a bilateral contract creating reciprocal obligations. Sale is an example.

SYNALLAGMATIC CONTRACT, civil law. A synallagmatic or bilateral contract is one by which each of the contracting parties binds himself to the other; such are the contracts of sale, hiring, &c. Poth. Ob. n. 9. Vide Contract.

References in periodicals archive ?
The consignment agreement is a synallagmatic contract (bilateral) because it generates, since the date of its conclusion, reciprocal and interdependent obligations borne by both parties.
In Romanian legal literature (Uliescu, 2011; Ungureanu, 2011), unforeseeability is considered an exception to the pacta sunt servanda principle and it refers to revising the effects of a legal document (more precisely, a synallagmatic contract, in return for remuneration, commutative and with a successive execution).
With regard to synallagmatic contracts, the Italian legislator has stopped in principle upon a single effect, the annulment of the contract.
Although, in certain cases, strictly and limiting stipulated by law, donations can be revoked, with legal effects almost identical with those produced by the resolution of the synallagmatic contracts.