Mutual Promises Law and Legal Definition
Mutual promises are promises of contracting parties, the promise by one party being the consideration for the promise by the other. A contract involving mutual promises, each party being both promisor and promise, is a bilateral contract.
Mutual promises are good consideration to uphold an agreement. [Operations Mgmt. Int'l, Inc. v. Tengasco, Inc., 35 F. Supp. 2d 1052 (E.D. Tenn. 1999)].