Manifestation of Assent in Contract Law: A Comprehensive Guide
In contract law, manifestation of assent refers to the action of showing agreement or acceptance in a legally binding agreement. It is a crucial concept in contract law that validates the agreement between two or more parties. Here`s everything you need to know about the manifestation of assent in contract law.
What is Manifestation of Assent?
Manifestation of assent, also known as mutual assent, is the legal term used to describe the actions taken by two or more parties to demonstrate their agreement or acceptance of the terms and conditions of a contract. This could be in the form of a written or oral agreement, and both parties should be fully aware of the terms of the agreement.
Without mutual assent, a contract is not legally binding, and parties involved cannot be held accountable for breach of contract if they act differently from what is agreed in the contract.
How is Manifestation of Assent Established?
Manifestation of assent can be established by either express or implied agreement. Express agreement refers to when the terms and conditions of the contract are explicitly stated and agreed upon by both parties. This could be in writing or orally, and both parties should specifically acknowledge the terms of the agreement.
Implied agreement, on the other hand, refers to nonverbal actions that indicate the agreement of the parties involved. This could be in the form of conduct, behavior, or circumstances surrounding the agreement. Implied agreement is inferred from the actions of the parties when no express agreement exists.
Factors that Determine Manifestation of Assent
Several factors determine the manifestation of assent in a contract. They include:
1) Offer and Acceptance: A valid contract must have an offer from one party and acceptance of that offer by the other party. The offer must be clear, definite, and communicated to the other party.
2) Capacity: Parties must have the legal capacity to enter into a contract. This means that they are of sound mind, not under duress, and not under the influence of drugs or alcohol.
3) Consent: Mutual assent is only valid when both parties agree to the terms and conditions of the contract without coercion, fraud or misrepresentation.
4) Legality: A valid contract must not be for illegal purposes. The subject matter of the agreement must not violate any state or federal laws or public policy.
Conclusion
Manifestation of assent is a significant and fundamental aspect of contract law. It is the foundation for a legally binding agreement, and both parties must show their agreement in the terms and conditions of the contract. It is important to understand what is required to establish manifestation of assent to ensure that contracts are legally enforceable and parties are held accountable for the terms and conditions of the agreement.