mutuality
- The characteristic of two parties or more having a reciprocal relationship or feeling
- A key attribute of a contract where each party is required to fulfill certain responsibilities
- The condition of multiple debts under bankruptcy law, where the same parties owe each other and share equivalent roles
- In a contract, mutual understanding and mutuality is critical for achieving the desired outcomes.
- The principle of mutuality ensures that both parties involved in a financial exchange have necessary obligations.
- The continued insolvency proceedings were complicated by a lack of clear understanding of mutuality between the parties' debts.
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