Mutual implies reciprocity or similar consequences.
Mutual , which derives from the Latin word mutuus , can be an adjective or a noun . In the first case, it is applied with reference to the action that two or more beings develop reciprocally or to that which has similar consequences for a group of individuals, events, etc.
For example: "You have nothing to thank me: the project will bring us mutual benefit" , "I feel great appreciation for Don Manuel, and I hope the feeling is mutual" , "The coach and the president of the club assured that the termination of the "The contract was by mutual agreement."
Concept of mutual
It is easy to understand what things can be classified as mutual when we analyze situations in which two people partner with a common goal. Suppose a person must travel abroad for work reasons, for which he must leave his house unoccupied, with the consequent risks of theft or illegal occupation.
At the same time, one of your friends needs to move somewhere cheaper, since he just lost his job and can no longer afford his current rent. If the latter settles in the former's house during his absence, the benefit will be mutual.
Mutual is the name of a type of contract.
A type of contract
As a noun, a type of contract is known as mutual. The mutual is established by making a loan that will be returned in the same amount and type plus interest that is paid over time. Its main elements are the object that is transmitted and the consent of the person who transmits it.
The mutual can be qualified in different ways:
* commercial mutual : it is one established by people dedicated to commerce , which is why its objective must also be found within the commercial framework;
* mutual mortgage : contemplates the inclusion of a mortgage guarantee that ensures that the obligation will be fulfilled;
* mutual civil : it is carried out by individuals, and is regulated in the Civil Code;
* simple mutual : the borrower has no obligation to pay a consideration in exchange for the amount he receives;
* mutual with interest : unlike the simple, the mutual has the obligation to repay the loan, either with money or property. It is a compensation that is calculated based on a pre-established percentage according to the things that occur in the mutual agreement.
Mutual characteristics
Some of the characteristics of the mutual are the following:
* It is transfer of ownership , which means that the property is transferred to the borrower, who only undertakes the obligation to return the goods;
* It is main since it does not depend on another contract to exist and be valid, but rather it has a life and its own objectives;
* the fact that both parties have rights and obligations makes it bilateral ;
* Its own effects do not appear until the moment in which the delivery of the thing takes place, which is why the mutual agreement is a real contract ;
* It is free by nature , because the borrower has no obligation to pay a consideration unless it is expressly agreed in advance. In other words, it is possible to say that the mutual is onerous by exception ;
* It is commutative , since both the liens and charges are determined in the contract, so the parties know them from the moment of its execution ;
* Since it does not require any formality to be considered valid, it is correct to define it as consensual as opposed to formal . Mutual consent allows consent to be expressed expressly (through any set of unequivocal signs, whether verbal or written) or tacitly (it is possible to assume consent for the acts or events that take place).