Question

Write a note on the benefits of Reciprocal Promise.

Answer 1

Meaning:

Promises which form the consideration or part of the consideration for each other are called reciprocal promises.

Benefits of Reciprocal Promise:

• Since both the parties are working simultaneously, there is no chance of losses.
• Each party is performing their promises independently to make the promise a successful one.
• There is no loss raised due to lack of time.