Alice and Bonnie are finalizing negotiations for the sale of Alice's hair salon. Near the end of the conversation, Bonnie tells Alice, "You have a deal!" This constitutes which element of a contract?

Question

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Bonnie's statement, "You have a deal!" indicates that both parties have reached a mutual understanding or agreement on the terms of the contract, which is the essence of the agreement element in contract law.

Alice and Bonnie Are Finalizing Negotiations for the Sale of Alice's