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What is meant by 'meeting of minds' in contract law?
It refers to 'consensus ad idem', indicating that both parties have a mutual understanding and agreement.
What is the difference between an agreement and a contract?
All contracts are agreements, but not all agreements are contracts.
What test do courts apply when determining if a contract is formed?
Courts apply an objective test, focusing on what was said and done outwardly, rather than the actual intent in a person's mind.
Define 'offer' in contract law.
An offer is an expression of willingness to contract on certain terms, intended to be binding upon acceptance.
What was the issue in Guthing v Lynn regarding the offer?
The offer concerning payment for a 'lucky' horse was too vague and thus unenforceable.
What did Lord Denning say regarding contract formation?
A contract is formed when there is, to all outward appearances, a contract.
In the context of offers, what are 'invitations to treat'?
Statements made during negotiations that are not binding offers, but invite others to make offers.
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