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Mutuality of Obligation |
Also found in: Legal | 0.01 sec. |
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Mutuality of Obligation The state in which both parties to a contract are required to perform some service. For example, one party may make a widget and the other may pay for it. Mutuality of obligation is one of the conditions that must exist for a contract to be legal and enforceable. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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