The topic of this podcast is the basic concepts related to mutual assent to a contract. In particular, we will look at the requirements for contract formation, particularly the promises that indicate assent. We will also look at what is a sufficient manifestation of assent.
On completion of the lesson, the student will be able to:
1. Describe the objective “reasonable person” standard applied to determine whether parties have manifested assent to a contract, particularly where a party has a different subjective intent, or social engagement is intended.