The person who accepts the proposal is called 'promisee'.

Explanation:
When two parties enter into a contract, one party makes an offer or proposal, and the other party accepts it. In this scenario, the person who accepts the proposal is referred to as the 'promisee.'

Understanding the terms:
To comprehend this further, let's define the terms involved in the question:
1. Offeror: The offeror is the person who makes an offer or proposal to another party. They are the ones initiating the contract by putting forth the terms and conditions.
2. Promisor: The promisor is the person who makes a promise or assurance to do something or refrain from doing something for the other party. They are the ones who are bound to fulfill their promise.
3. Promisee: The promisee is the person to whom the offer is made, and they accept the proposal. They are the ones who have the right to enforce the contract and expect the promised performance.

Application of the terms:
In the given question, the focus is on the person who accepts the proposal. This means that the offer has already been made, and someone needs to accept it. The individual who accepts the offer is called the promisee. They are the recipients of the offer and have the power to bind the promisor to the contract.

Example:
Let's consider an example to illustrate this concept:
Suppose, Mr. A offers to sell his car to Mr. B for a certain price. In this case:
- Mr. A is the offeror as he is proposing to sell his car.
- Mr. B is the promisee as he is the one accepting the offer and agreeing to purchase the car.
Once Mr. B accepts the offer, a contract is formed, and both parties are legally obligated to fulfill their respective roles.

In conclusion, the person who accepts the proposal is called the 'promisee.' They are the ones who have the power to enforce the contract and expect the promised performance from the promisor.