What is a promise for a promise specifically termed?

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Prepare for the Louisiana Notary Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

A promise for a promise is specifically termed bilateral because it involves mutual obligations between two parties. In a bilateral contract, each party makes a promise to the other. This means that one party's promise serves as consideration for the other party's promise, creating a binding agreement. For example, if one party agrees to sell a car and the other party agrees to pay a certain amount for it, both parties are making promises that support the contract.

This is distinct from other types of contracts mentioned in the options. An accessory contract, for instance, refers to a secondary agreement that supports or is related to a primary contract but does not stand on its own. Injunctive relief deals with a court's order to compel or prevent actions in legal contexts, and suretyship involves a third party agreeing to be responsible for the debt or obligation of another party. Therefore, bilateral is the term that best describes a situation where promises are exchanged, highlighting the reciprocal nature of the agreement.