Practice Quiz

CLEP Business Law

Category - Contracts

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If there was a "meeting of the minds," then:
  1. The contract is invalid.
  2. There was no intention of forming a contract.
  3. There was mutual assent and the contract is valid.
  4. The parties met to discuss the terms of the contract.
  5. There was a written contract.
Explanation
Answer: C. If there was a meeting of the minds, there was mutual assent and the contract is valid. A meeting of minds indicates that there was an intention to form a contract on the part of each the parties involved. Intention is an important element in the formation of a contract.
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