Question

In forming a contract, the “meeting of the minds” is _____.
a.
an agreement between all parties involved in the contract of the details of the contract.
b.
a formal meeting of the parties involved in a contract that may or may not result in a signed agreement.
c.
a phrase used to describe a verbal contract or a contract made without signatures from the parties involved.
d.
a mental exercise used by a person involved in a contract to try to guess the contract requests of the other parties and offer a compromise.

Answer 1

a.

"Meeting of the minds" (mutual assent) means all parties agree on the essential terms of the contract — they have a shared understanding and intention to be bound.