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In this lesson, the focus continues on mutual assent and the termination of offers in contract formation. A brief refresher highlights the three essential elements needed for a traditionally enforceable contract: mutual assent between the parties, consideration, and absence of defenses that would invalidate the contract. The discussion reiterates the importance of mutual assent, defined as a "meeting of the minds," which indicates a mutual understanding or agreement between the parties involved. The lesson emphasizes that mutual assent is a critical component of forming a valid contract.
