Final answer:
False: Agreement is the mutual understanding or meeting of the minds between two or more individuals regarding the terms of a contract.
Step-by-step explanation:
False: Agreement is the mutual understanding or meeting of the minds between two or more individuals regarding the terms of a contract. It implies that all parties involved have reached a consensus and are in agreement on the terms of the contract.
To put it simply, agreement means all parties have agreed to the terms, whereas the absence of agreement would imply that there is no mutual understanding or meeting of the minds.
For example, if two individuals are negotiating the terms of a business partnership and they are not able to reach a consensus on important aspects such as profit sharing, ownership, or decision-making power, there is a lack of agreement.