Legal Dictionary
Main Entry:
mu·tu·al·i·tyPronunciation:
"myü-ch&-'wa-l&-tEFunction:
noun : the quality or state of being mutual: as
a : the quality of a contract under which both parties are bound by obligations
b : the state of debts for purposes of set-off under bankruptcy law in which the debts are owed between the same parties standing in the same capacity