Consensus Ad Idem
EROSION OF CONSENSUS AD IDEM
This work is to discuss about the erosion of “consensus ad idem” or called as “meeting of the minds”, to get to know about this we have to know about “Contract” where in which the “consensus ad idem” plays a very important role.
Meaning and Definition of Contract:
The word contract is derived from the Latin “contractum”, meaning “drawn together”. It, therefore, denotes a drawing together of two or more minds to form a common intention giving rise to an agreement which is intended to be enforceable by law and which may have elements in writing, though contracts can be made orally. Section 2(h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as “every promise and every set of promises forming consideration for each other.” Section 2(b) defines promise in these words: “When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted.
Essentials of Contract:
Every contract is said to have the following elements:-
❖ Offer
❖ Acceptance
❖ Consideration
❖ Meeting of the minds [consensus ad idem]
❖ Competency of parties &
❖ Legality or Lawful Object
These six elements are said to be the essentials of a valid contract, absence of even one of these would result in non-enforceability or a contract which is not legally enforceable. Two or more persons can enter into a contract and there should be offer or proposal from any of the party to the other and the offer can be of any form i.e., express, implied or general offer, also the offer should be certain and definite. An offer is synonymous with proposal. The offeror or proposer expresses his willingness “to do” or “not to do” (i.e., abstain from doing) something with a view to obtain acceptance of the other party to such act or abstinence. Thus, there may be “positive”
This work is to discuss about the erosion of “consensus ad idem” or called as “meeting of the minds”, to get to know about this we have to know about “Contract” where in which the “consensus ad idem” plays a very important role.
Meaning and Definition of Contract:
The word contract is derived from the Latin “contractum”, meaning “drawn together”. It, therefore, denotes a drawing together of two or more minds to form a common intention giving rise to an agreement which is intended to be enforceable by law and which may have elements in writing, though contracts can be made orally. Section 2(h) of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as “every promise and every set of promises forming consideration for each other.” Section 2(b) defines promise in these words: “When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted.
Essentials of Contract:
Every contract is said to have the following elements:-
❖ Offer
❖ Acceptance
❖ Consideration
❖ Meeting of the minds [consensus ad idem]
❖ Competency of parties &
❖ Legality or Lawful Object
These six elements are said to be the essentials of a valid contract, absence of even one of these would result in non-enforceability or a contract which is not legally enforceable. Two or more persons can enter into a contract and there should be offer or proposal from any of the party to the other and the offer can be of any form i.e., express, implied or general offer, also the offer should be certain and definite. An offer is synonymous with proposal. The offeror or proposer expresses his willingness “to do” or “not to do” (i.e., abstain from doing) something with a view to obtain acceptance of the other party to such act or abstinence. Thus, there may be “positive”