What is required for a mutual consent agreement?

A mutual consent agreement fundamentally relies on the voluntary agreement of all parties involved. This means that each party must express their willingness to enter into the agreement without coercion or duress. A mutual consent agreement emphasizes collaboration and consensus, ensuring that every participant acknowledges and accepts the terms. This collaborative nature is crucial for the validity of such agreements.

While a formal written contract can be beneficial for clarity and enforceability, it is not a strict requirement for a mutual consent agreement. Similarly, a majority vote among stakeholders does not align with the principle of mutual consent, as it implies that some parties might be bound by an agreement they did not fully agree to. Therefore, the essence of a mutual consent agreement hinges solely on the collective and explicit agreement of all parties involved.