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This lesson discusses mutual assent in contract law, focusing on the difference between acceptance and counteroffer under common law and the Uniform Commercial Code. To form a traditional enforceable contract, three elements are needed: mutual consent, consideration, and no defenses to formation. Mutual assent requires a meeting of the minds between the parties. In contract law, determining mutual assent involves analyzing a fact pattern to establish whether there was a meeting of the minds between the parties.
