Consensus as a Requirement of a Valid Contract from a Namibian Perspective: Issues and Solutions

The basis of the existence of a contract is an agreement between the parties. No contract can therefore be concluded when there is no contract. Hence, consensus is the very first step in establishing whether or not a contract has been concluded between the parties. Consensus is one of the requirements of a valid contract. However, the validity of a contract does not only rests of consensus. There are several other requirements that must be complied with before one can say that a valid contract has been concluded. It is essential for both parties to be ad idem regarding all the material terms and conditions of the agreement, failing of which the parties will be unable to enforce any rights and remedies which could normally flow from a valid contract. This article therefore analyse the concept of consensus as a requirement of a valid contract. In doing so, the article looks at what is consensus, how consensus is obtained, factors affecting consensus and the possible consequences for failing to obtain consensus.