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In this lesson, we continue discussing mutual assent and the termination of offers in contract formation. To form a traditional enforceable contract, three elements are essential: mutual assent between the parties, consideration, and the absence of defenses to formation that could invalidate the contract. We are currently focusing on mutual assent, which is crucial for creating a valid contract. Mutual assent refers to the "meeting of the minds" between the parties, meaning there must be a mutual understanding or agreement on the terms. This sets the stage for further exploration of offer termination.
