Legal Definition and Related Resources of Commutative contract
Meaning of Commutative contract
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, which is the equivalent. Such contracts are usually distributed into four classes, namely: 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.
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- See contract of exchange.