Promises which form the consideration or part of the consideration for each other is known as ____________________

Section 2(f) Promises which form the consideration or part of the consideration for each other, are called reciprocal promises and are of three types- Mutual and independent - When each party to the contract has to perform their promises irrespective of whether the other party has performed his part or not Conditional and dependent - When the performance of a promise by one party depends on the earlier performance of the other party’s promise Mutual and concurrent - When both parties to the contract have to perform their promises simultaneously