Consensus ad idem financial definition of Consensus ad idem
meeting of the minds (redirected from Consensus ad idem)
Also found in: Legal
meeting of the minds
A requirement for the formation of a valid and enforceable contract is that the parties must agree to the same thing.If there is a mutual mistake of fact regarding one of the critical elements of a contract, there has been no meeting of the minds and the contract may be set aside.
References in periodicals archive
There is something in law we call consensus ad idem
- consensus by many parties on the same subject matter.
These formalities include that there be an offer and acceptance and consensus ad idem
They also offered ample narrative exhibitions of consensus ad idem