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Which of the following are legal requirement of a valid acceptance?
- a)It must be communicated
- b)It must be presumed from silence if not communicated within specified time
- c)It must be absolute and unconditional
- d)It must be accepted by a person who has the authority to accept
Correct answer is option 'C,D'. Can you explain this answer?
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Which of the following are legal requirement of a valid acceptance?a)I...
Legal Requirements of a Valid Acceptance:
Acceptance is a crucial element in the formation of a contract. For an acceptance to be considered legally valid, it must meet certain requirements. Let's discuss these requirements in detail:
Absolute and Unconditional:
Acceptance must be absolute and unconditional. This means that the offeree must agree to all the terms of the offer without any modifications or conditions. Any attempt to change the terms of the offer would be considered a counteroffer, not an acceptance.
Accepted by a Person with Authority:
Acceptance must be made by a person who has the authority to accept the offer on behalf of the offeree. If the acceptance is made by someone who does not have the authority to act on behalf of the offeree, it would not be considered valid.
These two requirements are crucial for a valid acceptance in contract law. It is important for parties to ensure that their acceptance meets these criteria to avoid any legal disputes in the future.
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Which of the following are legal requirement of a valid acceptance?a)I...
Legal Requirements of a Valid Acceptance
Acceptance is an essential element in the formation of a legally binding contract. To be considered a valid acceptance, certain requirements must be met. The legal requirements of a valid acceptance are as follows:
A: It must be communicated
- Acceptance must be communicated to the offeror or their authorized agent.
- Silence or inaction generally does not constitute acceptance unless specified in the offer or the parties have a previous course of dealing where silence is considered acceptance.
B: It must be presumed from silence if not communicated within specified time
- In some cases, acceptance can be presumed from silence or inaction if the offer specifies a certain period for acceptance and the offeree remains silent for that period.
- This is known as the "postal rule" or "mailbox rule," which applies to acceptance by mail or similar means.
C: It must be absolute and unconditional
- Acceptance must be clear, definite, and unconditional.
- Any additions, modifications, or conditions to the offer may constitute a counteroffer and not a valid acceptance.
D: It must be accepted by a person who has the authority to accept
- The acceptance must be made by a person who has the legal capacity and authority to accept the offer.
- If the acceptance is made by someone without the proper authority, it may not be legally binding.
Overall, a valid acceptance requires communication, either explicitly or through silence, and must be absolute, unconditional, and accepted by a person with the authority to accept. It is crucial to ensure that all these legal requirements are met for a contract to be valid and enforceable.
Acceptance is an essential element in the formation of a legally binding contract. To be considered a valid acceptance, certain requirements must be met. The legal requirements of a valid acceptance are as follows:
A: It must be communicated
- Acceptance must be communicated to the offeror or their authorized agent.
- Silence or inaction generally does not constitute acceptance unless specified in the offer or the parties have a previous course of dealing where silence is considered acceptance.
B: It must be presumed from silence if not communicated within specified time
- In some cases, acceptance can be presumed from silence or inaction if the offer specifies a certain period for acceptance and the offeree remains silent for that period.
- This is known as the "postal rule" or "mailbox rule," which applies to acceptance by mail or similar means.
C: It must be absolute and unconditional
- Acceptance must be clear, definite, and unconditional.
- Any additions, modifications, or conditions to the offer may constitute a counteroffer and not a valid acceptance.
D: It must be accepted by a person who has the authority to accept
- The acceptance must be made by a person who has the legal capacity and authority to accept the offer.
- If the acceptance is made by someone without the proper authority, it may not be legally binding.
Overall, a valid acceptance requires communication, either explicitly or through silence, and must be absolute, unconditional, and accepted by a person with the authority to accept. It is crucial to ensure that all these legal requirements are met for a contract to be valid and enforceable.
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Which of the following are legal requirement of a valid acceptance?a)It must be communicatedb)It must be presumed from silence if not communicated within specified timec)It must be absolute and unconditionald)It must be accepted by a person who has the authority to acceptCorrect answer is option 'C,D'. Can you explain this answer?
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Which of the following are legal requirement of a valid acceptance?a)It must be communicatedb)It must be presumed from silence if not communicated within specified timec)It must be absolute and unconditionald)It must be accepted by a person who has the authority to acceptCorrect answer is option 'C,D'. Can you explain this answer? 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 Which of the following are legal requirement of a valid acceptance?a)It must be communicatedb)It must be presumed from silence if not communicated within specified timec)It must be absolute and unconditionald)It must be accepted by a person who has the authority to acceptCorrect answer is option 'C,D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following are legal requirement of a valid acceptance?a)It must be communicatedb)It must be presumed from silence if not communicated within specified timec)It must be absolute and unconditionald)It must be accepted by a person who has the authority to acceptCorrect answer is option 'C,D'. Can you explain this answer?.
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