Consensus ad idem

Meeting of the minds.

Derived from Latin and meaning agreement with respect to the same thing. If two parties enter into an agreement both parties must have the same understanding of the terms used in the agreement or contract. 

In a contract the terms included must be provable and reference should not be needed to be made to what might be in someone's mind. The word 'stock' in a contract could mean shares in one person's mind but could mean the goods owned by the company in another person's mind.

 

 

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