Meeting of the Minds Law and Legal Definition
When two parties to an agreement especially a contract understand the terms of the contract in the same manner, the parties are said to have ‘meeting of the minds.’ What one party understands should be exactly same as that understood by the other party. Meeting of minds is also called as mutual agreement, mutual assent or consensus ad idem. This is one of the essential elements in the formation of a contract [In Fritz v. Thompson, 1985 Ohio App. Lexis 7910 (Ohio Ct. App. 1985)].
In determining the question whether a meeting of the minds exists, the operative time is that moment when an alleged agreement was made [In re Yantz, 2004 Bankr. LEXIS 2279 (Bankr. D. Vt. 2004)].