What is required to establish mutual assent?

Rejection of an offer signifies that one party does not agree to the terms proposed by the other, effectively negating any potential for mutual assent. When an offer is rejected, there is no meeting of the minds, as one party has clearly signaled their unwillingness to accept the terms.

An offer and counteroffer represent a negotiation process that may lead to mutual assent, but they do not themselves establish it. A counteroffer indicates a change in terms, which means the original offer is effectively rejected. Until both parties reach an agreement on the final terms, there is no meeting of the minds.

While an offer that meets a listing price may facilitate a transaction, it does not guarantee mutual assent. Both parties must still agree to the terms beyond just the price for mutual assent to be established. Thus, a mere price agreement does not encompass the full understanding required for a valid contract.