What legal principle ensures that a contract is based on mutual consent?

The legal principle that ensures a contract is based on mutual consent is the concept of Offer and Acceptance. This principle establishes that for a contract to be valid, one party must make an offer that is clear and definite, and the other party must accept that offer in its entirety without modifications. This mutual agreement is at the core of contract law, as it reflects the willingness of both parties to enter into a binding agreement.

In practical terms, this means that communication must occur where the terms of the contract are unequivocally stated and agreed upon. Without this exchange, a contract may be deemed void, as there is no meeting of the minds. The Offer and Acceptance principle fosters clear understanding and agreement between parties, ensuring that both are on the same page regarding their obligations and rights under the contract.

While consideration refers to something of value exchanged between the parties, and legality pertains to the lawful nature of the contract, it is ultimately the Offer and Acceptance that directly deals with the aspect of mutual consent required to form a contract. Similarly, competence addresses the capacity of the parties to enter into a contract but does not directly relate to the concept of mutual consent, which is firmly established through Offer and Acceptance.