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
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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.
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The place to broker a meeting of the minds was behind closed doors.
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We're still hopeful that a meeting of the minds can occur,'' Newhall Memorial spokeswoman Janice Newbold said Thursday.
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It may also represent a meeting of the minds in price.
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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.
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We all know that the critical element to any successful transactions is a meeting of the minds.
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After lengthy consultations, a meeting of the minds between the SEC, Warrantech and Warrantech's auditors was reached in June 2004.
J.M. Dutton & Associates Announces Investment Opinion: Warrantech Raised to Speculative Buy Rating In Update Issued By Dutton & Associates

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