mutual

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Related to Mutuals: Mutual funds

mutual

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

MUTUAL. Reciprocal.
     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.

References in periodicals archive ?
That's having some effects on mutuals, said Patrick Bradley, general manager of Georgia Farm Bureau Insurance Cos.
A new movement may present new challenges to some mutuals, he said.
For United Heritage, forming a mutual holding company was a win-win situation.
In a mutual-holding-company conversion, the original mutual insurer becomes a stock insurance company that is wholly owned by a mutual holding company.
As top executives and directors of several mutuals develop their long-term strategic plans, they quietly are realizing that they might be better positioned for the future if they go forward as part of a larger entity, rather than continuing solo.
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Mutuals need to be at least as efficient as stock companies.
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While people have been sustaining huge losses in the market for years, we have a no-load mutual fund that selects the best funds out of the entire universe using the world's first patent-pending mutual fund selection process" says Eric Mc Donald, President of MUTUALS.
Third Federal Savings and Loan, MHC, today announced the formation of its Mutual Partnership Program.
The financial-services modernization bill recently approved by the House of Representatives has reignited the insurance industry's debate over mutual holding companies, according to an article in the July 19 edition of BestWeek.

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