from
Bouvier's Law Dictionary, Revised 6th Ed (1856)
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.