Under which circumstance is genuineness of assent likely to be lacking?

The scenario in which genuineness of assent is likely to be lacking is when a contract is formed under duress. Duress refers to a situation where one party is forced or threatened into entering a contract against their will. This coercion undermines the voluntary nature of the agreement, which is a fundamental requirement for a valid and enforceable contract. In essence, if a party is not able to freely consent to the terms due to threats or pressures, the assent cannot be considered genuine, leading to potential grounds for the contract to be voided.

In contrast, when parties reach an agreement (the first option), it typically indicates a mutual understanding and acceptance of terms, which supports genuineness of assent. Signatures in the presence of witnesses (the third option) further validate the agreement and do not, in themselves, suggest a lack of genuine assent. Finally, when terms are mutually understood (the fourth option), it reinforces that both parties are concurring with the agreement, which again upholds genuineness of assent.