mutuality n: 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
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.