Mailbox Rules Flashcards
1
Q
mailbox rule
A
acceptance effective when sent
2
Q
what is effective ONLY upon receipt?
A
- offers
- revocation
- rejection
- counteroffers
3
Q
what is effective upon dispatch?
A
acceptance
4
Q
method of communication for acceptance
A
any reasonable manner for acceptance UNLESS offer provides otherwise
5
Q
when is revocation effective?
A
upon receipt
6
Q
when is an offer effective?
A
upon receipt
7
Q
when is rejection effective?
A
upon receipt
8
Q
when is a counteroffer effective?
A
upon receipt
9
Q
exceptions to mailbox rule
A
- offer stipulates acceptance effective only upon receipt
- offeree sends both rejection + acceptance - first to arrive controls
- option ks
10
Q
what happens if offeree sends both rejection + acceptance?
A
first to arrive is effective
11
Q
option ks
A
acceptance effective ONLY upon receipt BY DEADLINE
option k remains irrevocable (mailbox protects ONLY against revocation)
