ContractsContract_essentialsEASY
The buyer believes the purchase price is $250,000 and the seller believes it is $255,000 because of a typographical error in the contract. What contract element is missing?
Correct Answer
B) Mutual assent
Mutual assent requires that both parties agree to the same terms. A misunderstanding about the purchase price means there is no meeting of the minds.
Answer Options
A
ConsiderationB
Mutual assentC
Legal capacityD
Legality of objectWhy This Is the Correct Answer
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Background Knowledge for Contracts
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Related Topics & Key Terms
Key Terms:
contract_essentialscontractsmutual_assentmistake
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