It is quite often the case that nascent law students grapple with the concept of a “Meeting of the Minds”. A business owner or an entrepreneur also grapples with this concept. In business and law, minds meet when two (or more) people agree to a promise or set of promises, and said promises reflect the same actions or omissions which both parties think in their minds.
If a business owner does not properly meet the mind of the person or company and the parties form a contract, the contract will not represent the parties’ wishes. Ludwig Wittgenstein quite famously said, “That for which we cannot speak, we must remain silent”. The point is well taken; if we cannot say what we expect from the other party, we should not contract or promise. Precise use of language is necessary to have minds meet.
First, contracting with new business partners should not be rushed and it is critical that both sides have a written version of their expectations. This is not the same as a formal contract, but at least notes reflecting contractual duties of the parties. Second, the intent behind both parties’ actions should be known, at least to the extent that it will affect the contract. Third, do not let the mind of your business partner wander. Respond quickly to requests or negotiations. Fourth, prove that you remember your promises and fulfill them post-contract. For instance, if a wrong size was sent innocently, send the right one.
The acronym M.I.N.D. helps crystallize the points made above.
- Meticulous
Careful attention to detail can route out pre-contractual problems and save time in negotiating at a later date. Write down everything at first.
- Intent
Writing down both parties’ expectations carefully is great, but ensuring both sides understand the intent of both parties can add flexibility to a contracting party’s actions if the state of affairs changes. Have a discussion.
- Nimble
Respond to negotiations to the contract as swiftly as possible. If reflection is needed, do not rush but act as swiftly as possible. This fosters professionalism.
- Dedicated
Follow through with post contractual promises. It is not enough that minds meet at the beginning of a contractual relationship; some promises require a dedicated approach to meet contractual obligations.
A Meeting of the Minds implies two parties want and desire and most importantly promise to act or omit, through bargaining, to meet their mutual promises. In a general sense, the entire world operates out of this concept, so understanding how to “make minds meet” is crucial for any business agreement to be successful.
