Considering that:
1) there are two sisters: Margaret and Mary ( see https://www.baronage.co.uk/bphtm-03/fraser03.html )
2) for both of them, there are info's on the web about their marriage with James Cumming of Altyre
3) there are two James Cumming of Altyre ( see https://www.clanmacfarlanegenealogy.info/genealogy/TNGWebsite/getpe... - this site has a good reliability )
4) there are two Janet/jean Cumming daughters of James Cumming of Altyre and Mary or Margaret Fraser, one who married Alexander Munro and one who married JohnHay (no source reports that she married both of them)
IMHO I think that:
- Margaret was the 2nd wife of James the elder and mother of the Janet who married Alexander Munro
- Mary was the wife of James the younger and mother of Robert and of Jean/Janet who married John Hay of Park and Lochloy-
I'd like to know your opinions.