Asked by lydia barcenas on Apr 27, 2024
Verified
A(n) _______ is a meeting of the minds, and a requirement for a valid contract, which involves two distinct events.
A) acceptance
B) agreement
C) offer
D) breach
Agreement
A mutual understanding or arrangement between two or more parties, typically formalized by a contract, concerning their rights and responsibilities.
Minds
Refers to the intellectual or cognitive capabilities of individuals, including thoughts, perceptions, and consciousness.
Contract
A legally binding agreement between two or more parties that outlines obligations and provisions for each party.
- Examine the significance of precise, definite terminology in contracts and the function of consensus in the creation of contracts.
Verified Answer
JJ
Jadaya JonesApr 28, 2024
Final Answer :
B
Explanation :
An agreement in contract law is a meeting of the minds between two parties, where one party makes an offer and the other accepts, creating a mutual understanding or arrangement about the terms of a contract. This involves two distinct events: the offer and the acceptance.
Learning Objectives
- Examine the significance of precise, definite terminology in contracts and the function of consensus in the creation of contracts.