A contractual agreement always involves either a promise exchanged for a promise or a promise exchanged for a completed act or forbearance to act.

Name: A contractual agreement always involves either a promise exchanged for a promise or a promise exchanged for a completed act or forbearance to act.
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A contractual agreement typically involves an offer and acceptance, which can be a promise for a promise (bilateral contract) or a promise for a completed act or forbearance (unilateral contract).

A Contractual Agreement Always Involves Either a Promise Exchanged for a Promise