Mutual assent is a fundamental concept in contract law that refers to the agreement between parties to enter into a contract. This agreement is typically demonstrated through an offer made by one party and an acceptance by the other, indicating that both parties have a shared understanding and intention to be bound by the terms of the contract. The significance of mutual assent lies in its role as a necessary condition for the formation of valid contracts, ensuring that both parties are on the same page regarding their obligations and rights.
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