commutative contract

in commutative contracts, where the reciprocal obligations are to be performed at the same time, or the one immediately after the other, the party, who wishes to put the other in default, must, at the time and place expressed in, or implied in, the agreement, offer or perform, as the contract requires, that which on his part was to be performed, or the opposite party will not be legally put in default.

In civil law. One in which each of the contracting parties gives and receives an equivalent. The contract of sale is of this kind. The seller gives the thing sold, and receives the price, which is the equivalent. The buyer gives the price, and receives the thing sold, ly: Dd ut des, I give that you may give; facio ut facias, I do that you may do; faoio ut des, I do that you may give; do ut facias, I give that you may do. Poth. Obi. note 13. See Civ. Code La. art. 1761.

In Civil Law. One in which each of the contracting parties gives and receives an equivalent. The contract of sale is of; The seller gives the thing Bold, and n price, which is the equivalent i gives the price, and receives the thing which is the equivalent. Such contract usually distributed into foully: Do ut des (I give that you may give); Facio ut facias (I do that you may do); Facia ut des (I do that you may give); Do ut (I give that you may do). Pothier, Obi. n. 13. See La. Civ. Code, art 17G1.

In the civil law. A of the parties receives as much as he gives, what he gives.

In the civil law. One in which each of the contracting parties gives and receives an equivalent. Commutative contracts are those in which what is done, given, or promised by one party is considered as equivalent to, or a consideration for, what is done, given, or promised by the other. Civil Code La. art. 1768,

[from commutare, to change or exchange.] In the civil law. A contract in which the intention of each of the parties is to receive as much as he gives, [or an equivalent for what he gives.] Pothier Contr. of Sale, part 1, sect. 1.