Mutual Assent | Contract Law | Formation

This lesson provides an introduction to the doctrine of mutual assent. Previous lessons have focused on consideration and consideration substitutes. But recall that to form a contract, the parties must also agree to the same exchange. This agreement comes about through offer and acceptance. We will delve into the details of offer and acceptance in future lessons. For now, we'll look at the big picture of mutual and consider how we determine when it occurs. Chapters 00:00 - Introduction 00:37 - Definition of Mutual Assent 02:10 - Determining when Mutual Assent Occurs 04:05 - Example of Lucy v. Zehmer 06:22 - Example of Signing a Contract Without First Reading It 07:13 - Three Exceptions to the Objective Standard of Contracts 08:50 - Exception One: Both parties have same subjective interpretation 12:21 - Exception Two: The parties have different subjective interpretations and one party knows the other party's interpretation 17:41 - Exception Three: The parties have different subjective interpretations, both interpretations are equally reasonable, and neither party knows of the other party's interpretation 20:59 - Conclusion/Outro If you found this lesson helpful, please like and subscribe. Thanks for your support! Be sure to check out the free flashcards for this lesson at: https://docs.google.com/presentation/...