1
Q
What is an acceptance
A
An acceptance is a manifestation of assent to the terms of an offer made in a manner invited by the offer.
2
Q
When is it effective
A
Upon dispatch.
3
Q
Mailbox rule - Acceptance
A
Acceptance It is not valid if
- The offeree-sender uses the wrong address or has improper postage;
- the offeror expressly stipulates otherwise.
- an option contract is involved
4 the offeree-sender sends a termination letter before the acceptance letter ; OR
- the offeror detrimentally relies on a termination before he receives the acceptance letter .
4
Q
What is a rejection
A
An rejection is a manifestation of intent to not accept the offer in a manner invited by the offer.
5
Q
When is rejection effective
A
When received by the offeror.
Note- if rejection is sent and then an acceptance is sent, whichever the recipient receives first is effective.
