meeting of the minds


Also found in: Dictionary, Thesaurus, Financial, Acronyms, Idioms, Wikipedia.

meeting of the minds

n. when two parties to an agreement (contract) both have the same understanding of the terms of the agreement. Such mutual comprehension is essential to a valid contract. It is provable by the express provisions of a written contract, without reference to any statements or hidden thoughts outside the writing. There would not be a meeting of the minds if Bill Buyer said, "I'll buy all your stock," and he meant shares in a corporation, and Sam Seller said, "I'll sell all my stock to you," and meant his cattle. (See: contract)

meeting of the minds

noun accordance, common assent, compatibility, complete accord, compliance, concert, concord, concordance, concurrence, consensus, consentaneity, harmony, muuual understanding, rapport, unanimity, understanding, uniformity, unison, unity
Associated concepts: bilateral contract, rescission of an agreement
See also: agreement
References in periodicals archive ?
In a recent case, the court held that agreement on price, together with agreement on the cash component of the price, the specifics of a second mortgage and payment of the broker's commission by the buyer was sufficient to constitute a meeting of the minds.
The place to broker a meeting of the minds was behind closed doors.
If the houses have not come to a consensus yet, look for a last second meeting of the minds tonight.
We're still hopeful that a meeting of the minds can occur,'' Newhall Memorial spokeswoman Janice Newbold said Thursday.
It may also represent a meeting of the minds in price.
He was none of the above in Thursday night's loss at Denver, prompting coach Phil Jackson to sit down with his ace shooter for a meeting of the minds Friday morning.
We all know that the critical element to any successful transactions is a meeting of the minds.

Full browser ?