Mutual credit
Defined in 1 dictionary — Ballentine's (1916)
Ballentine's Law Dictionary
James A. Ballentine · 1916
A knowledge on both sides of an existing debt due to one party, and a credit by the other party, founded on, and trusting to such debt, as a means of discharging it. See 146 U. S. 499, 36 L. Ed. 1059, 13 Sup. Ct. Rep. 148.