The Collaborative International Dictionary of English v.0.48:

Neutrality \Neu*tral"i*ty\, n. [Cf. F. neutralit['e].]
   1. The state or quality of being neutral; the condition of
      being unengaged in contests between others; state of
      taking no part on either side; indifference.
      [1913 Webster]

            Men who possess a state of neutrality in times of
            public danger, desert the interest of their fellow
            subjects.                             --Addison.
      [1913 Webster]

   2. Indifference in quality; a state neither very good nor
      bad. [Obs.] --Donne.
      [1913 Webster]

   3. (Chem.) The quality or state of being neutral. See
      Neutral, a., 4.
      [1913 Webster]

   4. (International Law) The condition of a nation or
      government which refrains from taking part, directly or
      indirectly, in a war between other powers.
      [1913 Webster]

   5. Those who are neutral; a combination of neutral powers or
      states.
      [1913 Webster]

   Armed neutrality, the condition of a neutral power, in time
      of war, which holds itself ready to resist by force any
      aggression of either belligerent.
      [1913 Webster]

WordNet (r) 3.0 (2006):

neutrality
    n 1: nonparticipation in a dispute or war
    2: tolerance attributable to a lack of involvement [syn:
       disinterest, neutrality]
    3: pH value of 7

Moby Thesaurus II by Grady Ward, 1.0:

152 Moby Thesaurus words for "neutrality":
   Laodiceanism, Olympian detachment, a wise passiveness, abnegation,
   abstinence, avoidance, avoiding reaction, calm, calmness, chill,
   chilliness, circumvention, coldness, conservatism, constraint,
   contemplation, contemplative life, continence, control, cool,
   coolness, defense mechanism, detachment, disinterest,
   disinterestedness, dispassion, dispassionateness,
   do-nothing policy, do-nothingism, do-nothingness, dodge, dormancy,
   duck, elusion, elusiveness, equitability, equivocation, escape,
   evasion, evasive action, evasiveness, evenhandedness, evenness,
   fairness, fervorlessness, forbearance, forestalling, forestallment,
   frostiness, gentleness, getting around, golden mean,
   halfheartedness, happy medium, iciness, idleness, immobility,
   impartiality, inaction, inactivity, indifference, indifferentism,
   indifferentness, indolence, inertia, inertness, insipidity, jink,
   judiciousness, juste-milieu, justness, laissez-aller,
   laissez-faire, laissez-faireism, lenity, loftiness, lukewarmness,
   meden agan, meditation, middle way, mildness, moderateness,
   moderation, moderationism, neuterness, neutralism, neutralness,
   nonintervention, noninvolvement, nonparticipation, nonresistance,
   nonviolence, nonviolent resistance, nothing in excess, objectivity,
   pacifism, paralysis, passive resistance, passive self-annihilation,
   passiveness, passivism, passivity, perfunctoriness, policy,
   prevention, procrastination, prudence, quiescence, quietism,
   refraining, repose, restraint, self-abnegation, self-control,
   self-denial, self-restraint, selflessness, serenity, shunning,
   shunting off, shy, sidestep, sidetracking, slip, sobriety,
   stability, stagnancy, stagnation, standpattism, stasis, steadiness,
   temperance, temperateness, tepidness, the runaround, tranquillity,
   unbias, unbiasedness, unexcessiveness, unextravagance,
   unextremeness, unopinionatedness, unprejudicedness, unselfishness,
   vapidity, vegetation, via media, vita contemplativa, waiting game,
   watching and waiting, zeallessness, zigzag



Bouvier's Law Dictionary, Revised 6th Ed (1856):

NEUTRALITY, international law. The state of a nation which takes no part
between two or more other. nations at war with each other.
     2. Neutrality consists in the observance of a strict and honest
impartiality, so as not to afford advantage in the war to either party; and
particularly in so far restraining its trade to the accustomed course, which
is held in time of peace, as not to render assistance to one of the
belligerents in escaping the effects of the other's hostilities Even a loan
of money to one of the belligerent parties is considered a violation of
neutrality. 9 Moore's Rep. 586. A fraudulent neutrality is considered as no
neutrality.
     3. In policies of insurance there is frequently a warranty of
neutrality. The meaning of this warranty is, that the property insured is
neutral in fact, and it shall be so in appearance and conduct; that the
property does belong to neutrals; that it is or shall be documented so as to
prove its neutrality, and that no act of the insured or his agents shall be
done which can legally compromise its neutrality. 3 Wash. C. C. R. 117. See
1 Caines, 548; 2 S. & R. 119; Bee, R. 5; 7 Wheat. 471; 9 Cranch, 205; 2
John. Cas. 180; 2 Dall. 270; 1 Gallis. 274; Bee, R. 67.
     4. The violation of neutrality by citizens of the United States,
contrary to the provisions of the act of congress of April 20, 1818, Sec. 3,
renders the individual liable to an indictment. One fitting out and arming a
vessel in the United States, to commit hostilities against a foreign power
at peace with them, is therefore indictable. 6 Pet. 445; Pet. C. C. R. 487.
Vide Marsh. Ins. 384 a; Park's Ins. 'Index, h.t.; 1 Kent, Com. 116;
Burlamaqui, pt. 4, c. 5, s. 16 & 17; Bunk. lib. 1, c. 9; Cobbett's
Parliamentary Debates; 406; Chitty, Law of Nat., Index, h.t.; Mann. Comm.
B. 3, c. 1; Vattel, 1. 3, c. 7, SS 104; Martens, Precis. liv. 8, c. 7, SS
306; Bouch. Inst. n. 1826-1831.