Contracts
What is the legal concept of 'meeting of the minds' in contract formation?
AThe parties meeting in person to sign the contract
BMutual agreement on all essential terms of the contract✓ Correct
CA mediation session resolving contract disputes
DA legal term for contract closing
Explanation
Meeting of the minds (mutual assent) requires that both parties genuinely agree on all essential terms of the contract. This element ensures contracts are not formed by misunderstanding, duress, or fraud.
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