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In this lesson, the focus is on mutual assent and the termination of an offer as part of forming a traditional enforceable contract. To recap, three elements are necessary for such a contract: mutual assent between the parties, consideration, and no defenses to formation that could invalidate the contract. The current discussion emphasizes mutual assent, which is essential for contract formation. Mutual assent refers to a "meeting of the minds" between the parties, highlighting the need for a mutual understanding or agreement for the contract to be valid.
