Tag: mutual assent

Raffles v. Wichelhaus

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Following is the case brief for Raffles v. Wichelhaus, Court of Exchequer, (1864) Case summary for Raffles v. Wichelhaus: Raffles and Wichelhaus entered a contract to buy and sell Surat cotton shipped by a ship called the ‘Peerless’ which was sailing from Bombay, India. Unbeknownst to both, there was a Peerless that sailed from Bombay in both October and December […]

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Mutual Assent

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Mutual assent is an agreement between two parties that intend to form a contract. Also known as a “meeting of the minds,” mutual assent signifies that the parties agree to the terms they are setting, as long as the necessary requirements are in place. Such a consensus is the first step in the contractual process. To explore this concept, consider […]

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