meeting of the minds


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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 Meeting of the Minds Conference celebrates the mutual success that ADP and its clients have achieved throughout the year," said Jay Rising, President, ADP National Account Services.
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.
After lengthy consultations, a meeting of the minds between the SEC, Warrantech and Warrantech's auditors was reached in June 2004.

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