mutual(redirected from Mutuals)
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Related to Mutuals: Mutual funds
adj., adv. referring to anything in which both parties have reciprocal rights, understanding, or agreement.
mutual(Collective), adjective coadjutant, coadjutive, coadjuvant, coadunate, coalitional, collaborated, combined, common, communal, communalistic, commutual, confederated, conjoint, cooperant, cooperative, federal, federate, federated, federative, general, in common, interdependent, joint, leagued, participatory, shared, unified, united
Associated concepts: mutual benefit association, mutual ennerprise, mutual insurance company, mutual savings bank
mutual(Reciprocal), adjective bilateral, complemental, complementary, concurrent, correspondent, corresponding, done reciprocally, equivalent, interactive, interchanged, interrelated, mutuus, parallel, reciprocating, reciprocative, two-sided, two-way
Associated concepts: mutual consent, mutual covenants, mutual easements, mutual mistake, mutual promise, mutual wills
See also: cognate, collective, common, concordant, correlative, joint, reciprocal, related
2. In contracts there must always be a consideration in order to make them valid. This is sometimes mutual, as when one man promises to pay a sum of money to another in consideration that he shall deliver him a horse, and the latter promises to deliver him the horse in consideration of being paid the price agreed upon. When a man and a woman promise to marry each other, the promise is mutual. It is one of the qualities of an award, that it be mutual; but this doctrine is not as strict now as formerly. 3 Rand. 94; see 3 Caines 254; 4 Day, 422; 1 Dall. 364, 365; 6 Greenl. 247; 8 Greenl. 315; 6 Pick. 148.
3. To entitle a contracting party to a specific performance of an agreement, it must be mutual, for otherwise it will not be compelled. 1 Sch. & Lef. 18; Bunb. 111; Newl. Contr. 152. See Rose. Civ. Ev. 261.
4. A distinction has been made between mutual debts and mutual credits. The former term is more limited in its signification than the latter. In bankrupt cases where a person was indebted to the bankrupt in a sum payable at a future day, and the bankrupt owed him a smaller sum which was then due; this, though in strictness, not a mutual debt, was holden to be a mutual credit. 1 Atk. 228, 230; 7 T. R. 378; Burge on Sur. 455, 457.