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Simple English definitions for legal terms
mutuant
Read a random definition: GRAT
A quick definition of mutuant:
Term: MUTUANT
Definition: A mutuant is someone who lends property in a mutuum. This means they give something to someone else, who promises to pay it back later. It's like when you lend a toy to a friend and they promise to give it back to you. Mutuant is similar to the word "lender."
Related term: MUTUUM
Similar term: MUTUARY
A more thorough explanation:
Definition: A mutuant is a person or entity that provides property in a mutuum, which is a type of loan where the borrower is obligated to return an equivalent amount of property, usually money, to the lender.
For example, if John borrows $100 from Jane in a mutuum, Jane is the mutuant because she is providing the property, which is the $100 loaned to John.
The term "mutuant" is often used in legal and financial contexts and is related to the term "mutuum," which refers to the loan agreement itself.