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In this lesson, the discussion continues on mutual assent and the termination of an offer in contract formation. To form a traditional enforceable contract, three elements are required: mutual assent between the parties, consideration, and the absence of defenses that could invalidate the contract. The lesson emphasizes the concept of mutual assent, defined as a meeting of the minds, which signifies a mutual understanding or agreement between the parties involved. This understanding is crucial for establishing the validity of the contract. The focus now shifts to the specifics of how an offer can be terminated within the framework of these elements.
