In contract law,an agreement means there is a mutual understanding between the parties as to the substance of the contract.This agreement between the parties is reached through:
A)negotiation and deliberation
B)communication of conditions
C)revocation or rejection
D)rejection and counteroffer
E)offer and acceptance

Question

Quizplus · Accepted Answer

An agreement in contract law is reached through offer and acceptance. One party makes an offer to the other, and if the other party accepts the offer, there is a mutual understanding of the substance of the contract. Negotiation and deliberation (choice A) may occur during the process of reaching an agreement, but it is not the specific method of forming an agreement. Communication of conditions (choice B) is important in clarifying the terms of the agreement, but it is not the actual formation of the agreement. Revocation or rejection (choice C) and rejection and counteroffer (choice D) indicate a lack of agreement, not an agreement itself.

In Contract Law,an Agreement Means There Is a Mutual Understanding