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consensus ad idem

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06:48 Jun 26, 2001
Latin to English translations [Non-PRO]
Bus/Financial
Latin term or phrase: consensus ad idem
contract law
hardish
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Summary of answers provided
na +1meeting of the minds
Vidmantas Stilius


  

Answers


3 hrs peer agreement (net): +1
meeting of the minds


Explanation:
In the common law system the basis of contract is a "consensus ad idem" or meeting of the minds. If one mind is defective there is no real mutual intent to contract, hence there should be no contract. Such a transaction should be void and the loss, if any, should fall where it lies.

Mistake and Frustration

If both parties to a contract make the same mistake in relation to it, the underlying validity of rulings, as we have noted, are binding on UK courts under the European Communities Act 1 the contract will be destroyed as there will be no "consensus ad idem" - meeting of minds. They will never have reached the agreement they intended.

You'll find details explanations of the meaning of the term at

www.egos.co.uk/freela21.htm
www.duhaime.org/ca-con1.htm - 18k
and a number of other sites at www.google.com search if you enter the above Latin terms






    Reference: http://www.edcar.on.ca/incompetents.html
    Reference: http://www.luiss.it/erasmuslaw/uk/Ingh6.html
Vidmantas Stilius
Local time: 18:51
Native speaker of: Native in LithuanianLithuanian
PRO pts in pair: 7

Peer comments on this answer (and responses from the answerer)
agree  Mariusz Rytel
1497 days
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