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Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance?
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Define the term of "acceptance". Discuss the legal provisions to commu...
Acceptance
Acceptance is the expression of the offeree's willingness to be bound by the terms of an offer made by the offeror. It is the final and unqualified expression of assent to the terms of the offer. Acceptance is a necessary element to form a contract.
Legal Provisions to Communicate Acceptance
Acceptance can be communicated in various ways, and the mode of acceptance depends on the terms of the offer. The following are the legal provisions to communicate acceptance:
- Express Acceptance: Acceptance can be communicated through written or oral means. It can be expressed through words, conduct, or acts. For example, signing a contract or orally agreeing to the terms of an offer.
- Implied Acceptance: Acceptance can also be implied through conduct or actions of the offeree. It occurs when the offeree acts in a way that indicates acceptance of the offer. For example, if the offeree starts to perform the obligations mentioned in the offer, it implies that the offeree has accepted the offer.
- Silence: Silence does not amount to acceptance unless there is a pre-existing relationship between the parties, and silence is deemed to be acceptance due to the course of conduct between the parties.
- Postal Rule: The postal rule applies when the acceptance is communicated through post or mail. Under this rule, the acceptance is deemed to be effective when it is posted, and not when it is received by the offeror. However, this rule does not apply when the offeror specifies a particular mode of acceptance.
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Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance?
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Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance?.
Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Define the term of "acceptance". Discuss the legal provisions to communicate of acceptance?.
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