What Is A Mutual Assent Agreement

The ability to define mutual consent is important to both parties entering into a contract. Mutual consent is an important facet of contractual engagement, as it involves the agreement of both parties and their willingness to reach an agreement. In essence, a contractual agreement is the mutual consent of two or more parties that are written. Mutual consent consists of two main elements: an offer and an acceptance. An offer is a promise to do something or not to do something in exchange for something valuable. Acceptance is made if the other party accepts the terms of the offer. Both offer and acceptance must be indicated in such a way as to convey to another reasonable person that the parties have agreed on the terms of the agreement. The concept of mutual consent becomes the most important when a contract is challenged in court. One might assume that a party erred and accepted an offer in a belief that was not consistent with the facts. It was errors that led them to conclude the agreement, not errors that occurred during the implementation of the agreement.

The assumption can be as simple as saying “I accept your offer,” even if the comment is flippant or unstable in writing. If the person did not intend to proceed with the purchase, while he signed his agreement in his words, they did not give their mutual consent. If mutual consent is expressly expressed orally or in writing, the resulting contract is an explicit contract. Where there is mutual agreement but not expressed, the resulting contract is a tacit contract. There are two types of unspoken contracts: “in fact under-implied” and “implicit in legal contracts.” Yes, for example. B, someone accidentally signs a comment that thinks it is a receipt, it would be a valid and therefore unenforceable lack of consent. It is possible that the errors could be reciprocal, where both parties made a false assumption, or could be considered unilateral, so that only one person who was wrong. This lesson examines one of the fundamental conditions of contract formation, mutual consent. Mutual consent is a reciprocal manifestation of consent under an agreement.

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