accpetance Flashcards
what is an acceptance?
an unconditional promise to be bound by the terms of the offer
what are the rules governing an acceptance?
the party accepting must know of the offer at the time he accepts it
any acceptance must match the terms of the offer exactly
silence is not an acceptance (two exceptions)
a conditional acceptance is not valid
may be by any method unless a specific method is asked for by the offeror
what are the exceptions to silence not amounting to acceptance?
when the offeree accepts by posting a letter - the postal rule applies
when a unilateral offer is accepted - demonstrated by conduct
what is the communication rule?
an acceptance is only valid once it has been communicated to the other party. this means the other party actually knows of the acceptance (or should).
communication of acceptance can be by any means
is not valid if it is sent but does not arrive
what is the postal rule?
an acceptance made by letter is valid when it is posted rather than when it is received and read
when does the postal rule apply?
the postal rule applies when the letter is properly stamped and addressed and committed to the postal service
applies even if the letter is late, the letter never arrives at all and if the offeror does not know that the letter has been posted
when does the postal rule not apply?
when it would be absurd to accept by post (perishable goods) and for the revocation of an offer, or if the offeror excludes acceptance by post
