Mutual Assent and Consideration. Consideration is a legal term
for something of value. Usually one side pays money for services or
goods. One party's consideration is the money, while the other's is
the service or good. Mutual assent is the understanding of both
parties as to what the agreement entails. Usually, mutual assent is
evidenced by a signature, however, in an oral contract such as when
one purchases something from a fast food restaurant, the mutual
assent is implied from the actions and words of the parties.