Definition of synallagmatic contract
Further reading
In civil law systems, a synallagmatic contract is a contract in which each party to the contract is bound to provide something to the other party. Its name is derived from the Ancient Greek synallagma, meaning mutual agreement. Examples of synallagmatic contracts include contracts of sale, of service, or of hiring.
In common law jurisdictions, it is roughly the equivalent of a bilateral contract rather than a gift (as such a relationship is not one of contract) or a unilateral contract in which only one party makes an enforceable promise. In civilian jurisdictions, the proper contrast is with a gift as such a relationship is one of contract.
References:
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.
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