/ˌbaɪˈlætərəl ˈkɒntrækt/ – Phrase
Definition: hợp đồng song phương.
A more thorough explanation: A bilateral contract is a type of contract in which both parties involved make promises to each other. Each party is obligated to perform a specific action or provide a certain consideration in exchange for the other party’s promise to do the same. This type of contract creates mutual obligations between the parties, and both parties are bound to fulfill their respective promises.
Example: In a bilateral contract, both parties agree to exchange goods or services for something of value, such as money.