Mailbox Rules

Question 1

mailbox rule

Answer 1

acceptance effective when sent

Question 2

what is effective ONLY upon receipt?

Answer 2

• offers
• revocation
• rejection
• counteroffers

Question 3

what is effective upon dispatch?

Answer 3

acceptance

Question 4

method of communication for acceptance

Answer 4

any reasonable manner for acceptance UNLESS offer provides otherwise

Question 5

when is revocation effective?

Answer 5

upon receipt

Question 6

when is an offer effective?

Answer 6

upon receipt

Question 7

when is rejection effective?

Answer 7

upon receipt

Question 8

when is a counteroffer effective?

Answer 8

upon receipt

Question 9

exceptions to mailbox rule

Answer 9

1. offer stipulates acceptance effective only upon receipt
2. offeree sends both rejection + acceptance - first to arrive controls
3. option ks

Question 10

what happens if offeree sends both rejection + acceptance?

Answer 10

first to arrive is effective

Question 11

option ks

Answer 11

acceptance effective ONLY upon receipt BY DEADLINE

option k remains irrevocable (mailbox protects ONLY against revocation)