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Mutual Consent or Meeting of the Minds

Knowing that the contract is a two way promise between the vendor and the purchaser that is bound and enforced by law it is acceptable that there should be some elements enforcing the contract. Amongst most common yet highly important elements are the mutual consent, the part of offer and acceptance, mutual exchange of something of value and delivery. Below we will try to clarify the exact meaning of the above elements and therefore to understand the significance o feach one in the enforcement of a contract of sale.

A fundamental element of a contract of sale is for sure the mutual concent of the parties or as some want to call it the meeting of the minds.

Mutual concent regarding a contract directly indicates the decision and intention to install legal relations between two parties, the purchaser and the vendor. This implies that the two parties involed have a mutual comprehension of the contract's content and what exactly the contract is enforcing. Consequently in the case senario that the purchaser believes he or she signs a contract to buy a boat and the seller believes he or she is selling an apartment, then the tow parts are not understanding the contract's provisions in the same way, hence there is not meeting of the minds and therefore the contract is bound to be unenforceable.

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