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5 Cards in this Set

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What is mutual assent?
A mutual assent to the same terms ordinarily established by a process of offer and acceptance
How should assent be determined?
It should be determined solely from the objective manifestations of intent-namely what a party does and says.
How should assent be viewed?
Objective manifestations of intent of the party should be viewed from the vantage point of a reasonable man in the position of the other party.
Must the parties be serious?
Must look at objective manifestations of one party's conduct, words, or circumstances. The issue is whether a reasonable man in the position of the other party would conclude from the manifestations that the other was serious.
Must the parties intend to be bound?
The parties need not manifest an intent to be bound; it may be inferred from the circumstances. If from the statements or conduct or circumstances, it appears that the parties did not intend to be bound, then there will be no contract.