Meeting of the Minds
~Parties can form a contract ONLY if they had a meeting of the minds
– They MUST understand e/o & intend to reach an agreement
– A judge will make an objective assessment of any disagreements about whether or not a
contract was made
– He will determine whether or not a reasonable person would conclude that there was an
agreement based on the parties’ conduct
Offer
~An offer is an act or statement that proposed definite terms and allows the other party to create
a contract by accepting those terms
– Offeror – The person who makes an offer
– Offeree – The person who receives an offer
~Probems w/ Intent:
– Invitation to bargain is NOT an offer (Ads that come to your house aren’t offers b/c
they’re not definite & certain enough
– Price quote is generally NOT an offer
– A letter of intent may or may not be an offer, depending on the writer’s intent & doesn’t
create legal obligation
