One of server
essential elements of a
contract. Mutual agreement is created by
an offer, the acceptance of the offer, and
communication of the acceptance back to the
offeror (the one making the offer). Mutual
agreement is the basis for a
meeting of the minds between the
contracting parties.
A contract can also
be discharged by the mutual agreement of the
parties so that it will no longer bind them,
or that it will be replaced by another
contract in altered terms substituted for
discharge within itself. This would apply in
circumstances of non-fulfilment
of a certain condition or the exercise of
the cancelation option.
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