ContractsQuestion 68 of 120
A 'meeting of the minds,' essential to contract formation, refers to:
a.A required in-person meeting at the courthouse
b.The buyer and broker agreeing on commission
c.Approval by the homeowners' association
d.Mutual agreement by both parties to the same terms
Explanation
A meeting of the minds, or mutual assent, means both parties understand and agree to the essential terms of the contract. It is shown through a valid offer and acceptance. Without genuine mutual agreement, no enforceable contract is formed.
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