Law Dictionary Definitions

reciprocal trust.See TRUST. [Blacks Law 8th]

reciprocal trade agreement.An agreement between two countries providing for the exchange of goods between them at lower tariffs and better terms than exist between one of the countries and other countries. [Blacks Law 8th]

reciprocal interinsurance exchange.See RECIPROCAL EXCHANGE. [Blacks Law 8th]

reciprocal insurance exchange.See RECIPROCAL EXCHANGE. [Blacks Law 8th]

reciprocal insurance.See INSURANCE. [Blacks Law 8th]

reciprocal exchange.An association whose members exchange contracts and pay premiums through an attorney-in-fact for the purpose of insuring themselves and each other. • A reciprocal exchange can consist of individuals, partnerships, trustees, or corporations, but the exchange itself is unincorporated. — Also termed interinsurance exchange; reciprocal insurance exchange; reciprocal interinsurance exchange. See reciprocal insurance under…

reciprocal discovery.See reverse Jencks material under JENCKS MATERIAL. [Blacks Law 8th]

reciprocal dealing.A business arrangement in which a buyer having greater economic power than a seller agrees to buy something from the seller only if the seller buys something in return. • Reciprocal dealing usu. violates antitrust laws. — Also termed reciprocal-dealing arrangement. Cf. TYING ARRANGEMENT . [Blacks Law 8th]

reciprocal contract.See bilateral contract under CONTRACT. [Blacks Law 8th]

reciprocal (ri-sip-r<<schwa>>-k<<schwa>>l), adj.1. Directed by each toward the other or others; MUTUAL <reciprocal trusts>.2.BILATERAL <a reciprocal contract>.3. Corresponding; equivalent <reciprocal discovery>. [Blacks Law 8th]